What is going on with BKE?
The Buckle, Inc. (BKE) stock is higher today after the company announced that its Board has authorized a $5.65 per share special cash dividend to be paid to shareholders of record at the close of business on December 20, 2021.
The Board also authorized a $0.35 per share quarterly dividend to be paid to shareholders of record at the close of business on December 20, 2021. This represents an increase of $0.02 per share or 6.1%.
Both the $5.65 per share special cash dividend and the $0.35 per share quarterly dividend ($6.00 per share in total) are payable on December 29, 2021, and will be paid together.
The dividends were authorized at its quarterly meeting of the Board of Directors, held on December 3, 2021.
Shares of BKE increased $0.82% to $47.26 as of Monday at 10:00 am ET.
What does this mean for The Buckle, Inc.?
Many investors prefer to buy dividend stocks because of the steady cash returns they provide. Companies with a long history of regular dividend increases are particularly prized.
While dividends aren't guaranteed, companies with dividend programs tend to see them as an important part of the company's relationship with shareholders and typically make efforts to keep making those payments.
This means that a dividend increase can be seen as a signal that a company's management believes it will be able to keep making payments at that level for the foreseeable future.
The Buckle offers apparel, accessories, and footwear that "caters to fashion-conscious young men and women."
Known as a denim destination, each store carries products from leading denim brands, including the company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 441 retail stores in 42 states.
