Caleres Inc (CAL) Declares Quarterly Dividend of $0.07
Caleres Inc (NYSE:CAL) declared a quarterly dividend on Thursday, March 14th, RTT News reports. Investors of record on Tuesday, March 26th will be given a dividend of 0.07 per share by the textile maker on Tuesday, April 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.03%.
Caleres has increased its dividend by an average of 26.0% annually over the last three years. Caleres has a dividend payout ratio of 11.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Caleres to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 11.0%.
NYSE CAL opened at $27.11 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.17 billion, a P/E ratio of 12.55 and a beta of 0.76. Caleres has a 12 month low of $26.60 and a 12 month high of $41.09.
Caleres declared that its board has approved a share buyback plan on Friday, December 14th that authorizes the company to repurchase 2,500,000 outstanding shares. This repurchase authorization authorizes the textile maker to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Caleres news, insider Daniel R. Freidman sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the transaction, the insider now directly owns 74,046 shares of the company’s stock, valued at approximately $2,221,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.
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Caleres Company Profile
Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.
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