By Connor Hart
Ross Stores raised its dividend to 40.5 cents from 36.75 cents.
The new payout, equal to $1.62 a share, represents an annual yield of about 1.2% based on Tuesday's closing price of $135.97.
The chain of discount department stores said the higher dividend will be paid on March 31 to shareholders of record as of March 18.
The higher dividend came as Ross logged lower profit and revenue in its fiscal fourth quarter and warned of softer demand trends so far in 2025, prompting the company to issue a cautious outlook that missed Wall Street's expectations.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 04, 2025 16:32 ET (21:32 GMT)
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