HanesBrands Announces 50% Increase in Regular Quarterly Cash Dividend
WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- HanesBrands (HBI), a leading marketer of everyday basic apparel under world-class brands, today announced that its Board of Directors is raising the companys dividend by 50 percent, declaring a regular cash dividend of $0.30 per share to be paid March 11, 2014, for stockholders of record at the close of business Feb. 18, 2014.
Hanes has increased its payout ratio target for returning cash to shareholders via dividends to 25 percent to 30 percent of earnings per share.
Hanes is generating significant value for shareholders through earnings growth, a strong balance sheet and significant cash flow, Hanes Chairman and Chief Executive Officer Richard A. Noll said. We are in a great position to increase the amount of cash we can return to stockholders, while retaining ample flexibility to pursue other growth opportunities, including acquisitions.
The quarterly dividend is the fourth since Hanes initiated its cash dividend program in April 2013. Each of the previous cash dividends were paid at a rate of $0.20 per share.
HanesBrands is a socially responsible leading marketer of everyday basic apparel under some of the worlds strongest apparel brands, including Hanes, Champion, Playtex, Bali, Maidenform, Flexees, JMS/Just My Size, barely there, Wonderbra and Gear for Sports. More information about the company and its corporate social responsibility initiatives, including environmental, social compliance and community improvement achievements, may be found on the Hanes corporate website at www.hanesbrands.com.
Matt Hall, 336-519-3386
Analysts and Investors:
T.C. Robillard, 336-519-2115
Source: HanesBrandsCopyright Business Wire 2014