The board of directors of Dillard’s Inc., has declared a one-time cash dividend of $5 per share in addition to a quarterly cash dividend of 5 cents per share, according to a statement posted on the company’s website Monday.
“This special, one-time dividend of $5 per share reflects our strong financial position and underscores our confidence in Dillard’s,” said William Dillard II, chief executive officer of the company.
“We are pleased to return value to our shareholders in this manner,” Dillard said.
Both dividends are payable on the Class A and Class B common stock of the company on Dec. 21, 2012, to shareholders of record as of December 7, 2012.
Shares of Dillard’s closed up $1.88 or 2.19 percent on Tuesday at $87.72 on the New York Stock Exchange.