American Eagle Outfitters lifts quarterly dividend by 25 percent

American Eagle Outfitters (AEO) has raised the amount of its quarterly cash dividend by 25 percent.

The company’s board declared a regular quarterly cash dividend of 0.125 cents on December 13, 2023, payable on January 19, 2024 to stockholders of record at the close of business on January 5, 2024.

“I am pleased to announce a 25 percent increase in our quarterly dividend, reflecting improved fundamentals and free cash flow over the course of 2023. This underscores the strength of our balance sheet and confidence in our strategic direction as we enter 2024,” said Jay Schottenstein, AEO’s executive chairman in a statement.

Raising its outlook for fiscal 2023, the company announced last month that the management expects revenue to be up mid-single digits, compared to prior guidance for revenue up low single digits and operating income to be in the range of 340 dollars to 350 million dollars, at the high end of prior guidance of 325 dollars to 350 million dollars.