Big Lots' Quarterly Dividend Offers 1.9% Yield

Big Lots, Inc. BIG revealed that its Board of Directors declared a quarterly cash dividend of $0.21 per common share. On an annualized basis, it worked out to $0.84 a share. The current dividend offered a yield of 1.9 percent and the dividend payout ratio out was 28 percent.

Big Lots said the dividend would be paid on June 24, 2016, to shareholders of record as of the close of business on June 10, 2016.

The company's CEO and President, David Campisi, said, "I'm pleased with today's announcement of a quarterly dividend. We believe returning cash to our shareholders to enhance overall financial returns demonstrates the confidence the Board of Directors has in our management team, our strategy, and our long-term opportunities to drive meaningful operating profit growth and cash flow."

The stock traded 10.4 percent higher on Friday.