HanesBrands (NYSE: HBI), a leading marketer of everyday basic apparel
under world-class brands, today announced that its Board of Directors is
raising the company’s dividend by 50 percent, declaring a regular cash
dividend of $0.30 per share to be paid March 11, 2014, for stockholders
of record at the close of business Feb. 18, 2014.
Hanes has increased its payout ratio target for returning cash to
shareholders via dividends to 25 percent to 30 percent of earnings per
share.
“Hanes is generating significant value for shareholders through earnings
growth, a strong balance sheet and significant cash flow,” Hanes
Chairman and Chief Executive Officer Richard A. Noll said. “We are in a
great position to increase the amount of cash we can return to
stockholders, while retaining ample flexibility to pursue other growth
opportunities, including acquisitions.”
The quarterly dividend is the fourth since Hanes initiated its cash
dividend program in April 2013. Each of the previous cash dividends were
paid at a rate of $0.20 per share.
HanesBrands is a socially responsible leading marketer of everyday basic
apparel under some of the world’s strongest apparel brands, including Hanes,
Champion, Playtex, Bali, Maidenform, Flexees,
JMS/Just My Size, barely there, Wonderbra and Gear
for Sports. More information about the company and its corporate
social responsibility initiatives, including environmental, social
compliance and community improvement achievements, may be found on the
Hanes corporate website at www.hanesbrands.com.
