HanesBrands (NYSE: HBI), a leading marketer of everyday basic apparel
under world-class brands in the Americas, Europe and Asia, today
announced that its Board of Directors is raising the company’s quarterly
cash dividend by 10 percent, the third consecutive double-digit annual
increase since establishing the dividend three years ago.
The board is raising the regular quarterly cash dividend to $0.11 per
share, up from $0.10 per share. The dividend will be payable March 8,
2016, to stockholders of record Feb. 16, 2016.
The company has returned more than $340 million to shareholders through
its quarterly dividend and has increased the dividend rate by 120
percent since the board established it in April 2013.
“Hanes’ continued earnings growth has allowed us to increase our
quarterly cash dividend to shareholders for the third consecutive year,”
Hanes Chairman and Chief Executive Officer Richard A. Noll said. “Hanes
is generating significant value for shareholders through earnings
growth, a strong balance sheet, and cash generation used to support
acquisitions, dividends and share buybacks.”
HanesBrands, based in Winston-Salem, N.C., is a socially responsible
leading marketer of everyday basic apparel under some of the world’s
strongest apparel brands in the Americas, Europe and Asia, including Hanes,
Champion, Playtex, DIM, Bali, Maidenform,
Flexees, JMS/Just My Size, Wonderbra, Nur Die/Nur Der,
Lovable 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.Hanes.com/corporate.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain “forward-looking statements,” as
defined under U.S. federal securities laws, with respect to our
long-term goals and trends associated with our business, as well as
guidance as to future performance. These forward-looking statements are
based on our current intent, beliefs, plans and expectations. Readers
are cautioned not to place any undue reliance on any forward-looking
statements. Forward-looking statements necessarily involve risks and
uncertainties, many of which are outside of our control, that could
cause actual results to differ materially from such statements and from
our historical results and experience. These risks and uncertainties
include such things as: the highly competitive and evolving nature of
the industry in which we compete; the failure of businesses we acquire
to perform to expectations; legal, regulatory, political and economic
risks associated with our operations in international markets, including
the risk of significant fluctuations in foreign exchange rates; the loss
or interruption of services of a member of our senior management team;
the accuracy of the estimates and assumptions on which our financial
statement projections are based; any inadequacy, interruption
,integration failure or security failure with respect to our information
technology; the impact of significant fluctuations and volatility in
various input costs, such as cotton and oil-related materials,
utilities, freight and wages; current economic conditions, including
consumer spending levels and the price elasticity of our products;
unanticipated business disruptions or the loss of one or more suppliers
in our global supply chain; and other risks identified from time to time
in our most recent Securities and Exchange Commission reports, including
our annual report on Form 10-K and quarterly reports on Form 10-Q, as
well as in the investors section of our corporate website at www.Hanes.com/investors.
Since it is not possible to predict or identify all of the risks,
uncertainties and other factors that may affect future results, the
above list should not be considered a complete list. Any forward-looking
statement speaks only as of the date on which such statement is made,
and HanesBrands undertakes no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, other than as required by law.
