stated Wednesday it expects to repurchase $500 million value of its inventory in 2022, and that it raised its quarterly dividend by 22%, to 55 cents a share from 45 cents. The Puerto Rico-based monetary companies firm’s new dividend can be payable within the second quarter of 2022. Based mostly on Tuesday’s inventory closing value of $92.57, the brand new annual dividend would indicate a dividend yield of two.38%, in contrast with the implied yield for the S&P 500
of 1.31%. The inventory buyback plan represents about 6.8% of Fashionable’s market capitalization of about $7.39 billion. The inventory, which was little modified in premarket buying and selling, has run up 15.2% over the previous three months, whereas the S&P 500 has gained 8.3%.