Dillard's Stock Surges Monday - What's Going On - Dillard's (NYSE:DDS)

Dillard's Inc DDS disclosed a newly authorized share repurchase program and a cash dividend.
The company's board of directors authorized a share repurchase program of up to $500 million. DDS has completed its previous share repurchase program.
The company also declared a cash dividend of $0.20 per share, payable on July 31, 2023, to shareholders of record as of June 30, 2023.
On May 11, the company reported Q1 2023 revenues of $1.58 billion, exceeding the consensus of $1.54 billion, and EPS of $11.85 beat the analyst expectations of $10.77.
In Q1, the company repurchased shares worth $113.8 million and had $61.6 million worth of shares remaining under the authorization as of April 29, 2023.
Operating cash flow stood at $280.9 million in the quarter. Cash and cash equivalents came in at $848.3 as of April 29, 2023.
Price Action: DDS shares are trading higher by 6.12% at $295.01 on the last check Monday.
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