FORT MYERS, Fla., Nov. 22, 2016 /PRNewswire/ -- Chico's FAS, Inc. (NYSE: CHS) today announced that its Board of Directors declared a quarterly cash dividend of $0.08 per share of its common stock, a 3.2% increase over the dividend rate from December 2015. The dividend is payable on December 19, 2016 to Chico's FAS shareholders of record at the close of business on December 5, 2016.
The Company also announced that its Board of Directors has amended the Company's bylaws to implement proxy access, effective November 17, 2016. The amended bylaws permit a stockholder, or a group of up to 20 stockholders, that has owned at least 3% of the Company's common stock continuously for at least three years, to include in the Company's annual meeting proxy materials director nominees constituting up to 20% of the Company's Board of Directors, provided that the stockholder(s) and the nominees(s) satisfy the requirements specified in the amended bylaws. A copy of the Amended and Restated Bylaws will be attached as an exhibit to the Chico's FAS third quarter Form 10-Q filed with the SEC. ABOUT CHICO'S FAS, INC. The Company, through its brands - Chico's, White House Black Market and Soma, is a leading omni-channel specialty retailer of women's private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items.