NEW YORK - Macy's, Inc. (NYSE: NYSE:M), a prominent retailer with a range of brands from off-price to luxury, announced a 5% increase in its regular quarterly dividend. The new dividend of 17.37 cents per share on the company's common stock is scheduled for payment on April 1, 2024, to shareholders who are on record as of March 15, 2024.
This move reflects the company's commitment to providing value to its shareholders and is a positive sign of its financial health. Macy's operates a large e-commerce business alongside its nationwide physical presence, aiming to offer a seamless shopping experience for its customers. The company's purpose, as stated, is to foster a brighter future with bold representation, unlocking the full potential of its diverse customer base.
The dividend increase is a key financial development for investors and signals confidence from the company's board in its current and future financial position. Macy's has a long-standing history in the retail sector and is known for its iconic nameplates, which include Macy's, Bloomingdale's, and Bluemercury.
The announcement was made through a press release and is based on the company's latest financial decisions. Macy's, headquartered in New York City, continues to focus on integrating its online and in-store operations to enhance customer satisfaction and drive business growth.
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