Williams-Sonoma, Inc. announces a 26% quarterly dividend increase and a new $1 billion stock repurchase authorization
13 Marzo 2024 - 7:01AM
Business Wire
Williams-Sonoma, Inc. (NYSE: WSM) announced today that its Board
of Directors has authorized a 26% increase in the company’s
quarterly cash dividend to $1.13 per common share. The quarterly
dividend is payable on May 24, 2024, to stockholders of record as
of the close of business on April 19, 2024. The Board of Directors
also approved a new $1 billion stock repurchase authorization,
which supersedes the company’s current stock repurchase
authorization.
“After our strong finish to 2023, we are proud to be positioned
to increase our quarterly dividend 26% and expand our stock
repurchase program to $1 billion,” said Laura Alber, President and
Chief Executive Officer. “These actions reflect our on-going
commitment to maximize shareholder value and deliver returns to our
shareholders.”
“We are proud of our fifteen consecutive years of increased
dividend payouts,” added Jeff Howie, Chief Financial Officer. “Over
the last six years, we have returned over $3.7 billion to
shareholders through dividends and share repurchases. Our
consistent profitability, coupled with our strong cash flows, have
positioned us to provide these returns to our shareholders.”
This new stock repurchase authorization is effective as of March
14, 2024, and results in $1 billion available for future
repurchases under the company’s stock repurchase authorization. The
company’s stock repurchase program authorizes the purchase of the
company’s common stock through open market and privately negotiated
transactions, including through Rule 10b5-1 plans, at such times
and in such amounts as management deems appropriate. The timing and
actual number of shares repurchased will depend on a variety of
factors, including price, corporate and regulatory requirements,
capital availability and other market conditions. The stock
repurchase program does not have an expiration date and may be
limited or terminated at any time without prior notice.
FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements that
involve risks and uncertainties, as well as assumptions that, if
they do not fully materialize or are proven incorrect, could cause
our results to differ materially from those expressed or implied by
such forward-looking statements. Such forward-looking statements
include statements relating to: our quarterly cash dividend; our
stock repurchase program; our ability to continue to return capital
to stockholders and maximize stockholder returns; and our long-term
outlook.
The risks and uncertainties that could cause our results to
differ materially from those expressed or implied by such
forward-looking statements include: continuing changes in general
economic conditions, and the impact on consumer confidence and
consumer spending; the continuing impact of inflation and measures
to control inflation, including changing interest rates, on
consumer spending; war in Ukraine and the Middle East, and
shortages of various raw materials on our global supply chain,
retail store operations and customer demand; labor and material
shortages; the outcome of our growth initiatives; new
interpretations of or changes to current accounting rules; our
ability to anticipate consumer preferences and buying trends;
dependence on timely introduction and customer acceptance of our
merchandise; changes in consumer spending based on weather,
political, competitive and other conditions beyond our control;
delays in store openings; competition from companies with concepts
or products similar to ours; timely and effective sourcing of
merchandise from our foreign and domestic vendors and delivery of
merchandise through our supply chain to our stores and customers;
effective inventory management; our ability to manage customer
returns; uncertainties in e-marketing, infrastructure and
regulation; multi-channel and multi-brand complexities; our ability
to introduce new brands and brand extensions; challenges associated
with our increasing global presence; dependence on external funding
sources for operating capital; disruptions in the financial
markets; our ability to control employment, occupancy, supply
chain, product, transportation and other operating costs; our
ability to improve our systems and processes; changes to our
information technology infrastructure; general political, economic
and market conditions and events, including war, conflict or acts
of terrorism; the impact of current and potential future tariffs
and our ability to mitigate impacts; the potential for increased
corporate income taxes; and other risks and uncertainties described
more fully in our public announcements, reports to stockholders and
other documents filed with or furnished to the SEC, including our
Annual Report on Form 10-K, our quarterly reports on Form 10-Q and
our current reports on Form 8-K. All forward-looking statements in
this press release are based on information available to us as of
the date hereof, and we assume no obligation to update these
forward-looking statements.
ABOUT WILLIAMS-SONOMA,
INC.
Williams-Sonoma, Inc. is the world’s largest digital-first,
design-led and sustainable home retailer. The company’s products,
representing distinct merchandise strategies — Williams Sonoma,
Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm,
Williams Sonoma Home, Rejuvenation, Mark and Graham, and GreenRow —
are marketed through e-commerce websites, direct-mail catalogs and
retail stores. These brands are also part of The Key Rewards, our
loyalty and credit card program that offers members exclusive
benefits across the Williams-Sonoma family of brands. We operate in
the U.S., Puerto Rico, Canada, Australia and the United Kingdom,
offer international shipping to customers worldwide, and have
unaffiliated franchisees that operate stores in the Middle East,
the Philippines, Mexico, South Korea and India, as well as
e-commerce websites in certain locations. We are also proud to be a
leader in our industry with our values-based culture and commitment
to achieving our sustainability goals. Our company is Good By
Design — we’ve deeply ingrained sustainability into our business.
From our factories to your home, we’re united in a shared purpose
to care for our people and our planet.
For more information on our sustainability efforts, please
visit: https://sustainability.williams-sonomainc.com/
WSM-DIV
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240313811703/en/
Jeff Howie EVP, Chief Financial Officer (415) 402-4324
Williams Sonoma (NYSE:WSM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Williams Sonoma (NYSE:WSM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024