This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Company Profile: Matthews, N.C.-based Family Dollar Stores operates more than 6,600 general merchandise retail discount stores in 44 states. Merchandise assortment includes consumables, home products, apparel accessories, seasonal and electronics.
On Jan. 20 Family Dollar Stores said its board approved a 16.1% increase to its quarterly cash dividend, paying 18 cents per share, up from 15.5 cents.
The next payout will be on April 15 to shareholders of record on March 15, bringing Family Dollar's yield to around 1.7%.
On Jan. 25 Family Dollar priced $300 million of senior unsecured notes due in 2021 with a 5% coupon. The secondary offering marked the first time Family Dollar accessed the public debt markets.
The retailer intends to put net proceeds from the offering toward its existing $750 million share repurchase program and other general corporate purposes.
In early January Family Dollar said that its fiscal-first quarter profits climbed 10% thanks to more shoppers at its stores purchasing items like food and candy.
Results led analysts at Barclays to raise their price target on Family Dollar by $2 to $52.
The firm said that benefits from investing in operating was taking longer than expected, and the analysts maintained an overweight rating on the stock.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.