This excerpt taken from the ROST 8-K filed Feb 5, 2009.
Board Approves 16% Increase in Quarterly Dividend
The Company announced that its Board of Directors recently approved a 16% increase in the quarterly cash dividend to $.11 per common share, payable on March 31, 2009 to stockholders of record as of February 20, 2009.
In commenting, Mr. Balmuth said, Our solid financial position and anticipated future cash flows allow us to continue to enhance stockholder returns through both our dividend and share repurchase programs. The higher dividend announced today represents the fifteenth consecutive annual increase since our dividend program was initiated in 1994. In addition, I am pleased to report that during 2008 we repurchased a total of 9.3 million shares of common stock for an aggregate purchase price of $300 million and expect to complete as planned the remaining $300 million repurchase authorization in 2009.
This excerpt taken from the ROST 8-K filed Feb 8, 2007.
Board Approves 25% Increase in Quarterly Dividend
Our strong financial position and confidence in our future growth prospects allow us to enhance stockholder returns through a continuation of our share repurchase and dividend programs, said Mr. Balmuth. During fiscal 2006, the Company repurchased a total of 7.1 million shares of common stock for an aggregate purchase price of $200 million. During fiscal 2007, we expect to complete the $200 million remaining under the current two-year $400 million stock repurchase authorization.
Mr. Balmuth continued, In addition, our Board of Directors recently declared a 25% increase in the quarterly cash dividend to a record $.075 per common share, our 13th consecutive annual increase. The first quarterly cash dividend at this new higher rate will be paid on or about March 30, 2007 to stockholders of record as of February 23, 2007.
Additional recorded information concerning todays press release and the Companys earnings guidance for the 2007 first quarter and fiscal year can be accessed by calling 402-220-5900, PIN #2363, from 8:30 a.m. Eastern time on February 8, 2007 through 8:00 p.m. Eastern time on February 9, 2007. A transcript of these comments also will be made available on the press release page of the Companys website at www.rossstores.com.
Forward-Looking Statements: This press release, the recorded comments and other material on the Companys website contain forward-looking statements that are subject to risks and uncertainties which could cause the Companys actual results to differ materially from managements current expectations. The estimated earnings per share for the fourth quarter and fiscal year ended February 3, 2007 are preliminary and subject to adjustments. The words plan, expect, anticipate, estimate, believe, forecast, projected, guidance, looking ahead and similar expressions identify forward-looking statements. Risk factors for Ross Stores and dds DISCOUNTS® include, without limitation, the Company's ability to convert certain Albertsons LLC real estate sites to the Ross and dds DISCOUNTS formats in a timely and cost effective manner and on acceptable terms, and the ability to achieve targeted levels of sales, profits and cash flows from these acquired store locations; the Companys ability to effectively operate its various supply chain, core merchandising and other information systems; its ability to improve its micro-merchandising capabilities through the implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in its distribution centers; potential pressure on freight costs from higher-than-expected fuel surcharges; obtaining acceptable new store locations; competitive pressures in the apparel industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise; changes in geopolitical and general economic conditions; unseasonable weather trends; disruptions in supply chain; lower than planned gross margin, including higher than planned markdowns and higher than expected inventory shortage; greater than planned operating costs; the Companys ability to continue to purchase attractive brand-name merchandise at desirable discounts; the Companys ability to identify and successfully enter new geographic markets; and the Companys ability to attract and retain personnel with the retail talent necessary to execute its strategies. Other risk factors are detailed in the Companys SEC filings including, without limitation, the Form 10-K for fiscal 2005 and the Form 10-Qs and 8-Ks for fiscal 2006. The factors underlying our forecasts are dynamic and subject to change. As a result, our forecasts speak only as of the date they are given and do not necessarily reflect the Companys outlook at any other point in time. The Company does not undertake to update or revise these forward-looking statements.
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Ross Stores, Inc., a Fortune 500 and Nasdaq 100 (ROST) company headquartered in Pleasanton, California, is the nations second largest off-price company with fiscal 2006 revenues of $5.6 billion. As of February 3, 2007, the Company operated 771 Ross stores and 26 dds DISCOUNTS locations, compared to 714 Ross stores and 20 dds DISCOUNTS locations at the end of fiscal 2005. Ross Stores offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices. dds DISCOUNTS features a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 70 percent off moderate department and discount store regular prices. Additional information is available on the Companys website at www.rossstores.com.
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