December same-store sales at Macy’s Inc. (NYSE: M) rose 6.2%, well above the consensus estimate of 5%. But sales for the peak sales season of November and December rose less, just 5.7%.
But the really good news for investors came later in the press release:
Given the strength in our company’s sales, earnings and cash flow, we are enhancing our return to shareholders by doubling our quarterly dividend and increasing our share purchase authorization by $1 billion.
Macy’s will now pay a dividend of $0.20/quarter. On an annual basis, Macy’s same-store sales have risen 5.4% in 2011.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
