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Company Profile: Framingham, Mass.-based Staples operates as an office products company. Its three business segments are North American Delivery, North American Retail and International Operations.
Staples increased its dividend by 11.1% to 10 cents per share
, up from 9 cents per share.
The higher payout will be available on April 14 to shareholders of record on March 25.
That brings Staples' yield to around 2%.
In mid-March Goldman Sachs analyst lowered their price target on Staples to $23, noting that investor sentiment was weakening in the office retail sector. The firm maintained a neutral rating on Staples shares.
Staples said fiscal-fourth quarter earnings rose 17% as sales increased slightly
The company said it expects first-quarter sales to increase in the low single-digits from a year earlier, and sees GAAP earnings of 30 cents to 32 cents a share. Analysts surveyed by Thomson Reuters expect Staples to earn 33 cents a share in the first quarter.
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