Pittsburgh-based Dick's operates more than 600 sporting goods retailers in the U.S.
The retailer's board of directors approved the quarterly dividend of 15.13 cents per share, increasing its annual rate to 60.5 cents per share. The previous quarterly dividend was 13.75 cents per share.
The dividend is payable on March 31 to shareholder on record as of March 13.
Also, reports suggested that rival Sports Authority may file for bankruptcy as early as March, according to Reuters.
Englewood, CO-based Sports Authority is expected to close up to 200 of its 450 stores if it files for bankruptcy, Reuters added.
Dick's will be the "main beneficiary" of the closures, Cannaccord Genuity analysts wrote in a note.
Separately, Dick's Sporting Goods has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's strengths, such as revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures, and its weaknesses including weak operating cash flow, generally disappointing stock performance and unimpressive growth in net income.
You can view the full analysis from the report here: DKS
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.