Macy's reinstates dividend

Macy's, Inc. (M) will again start paying quarterly dividends, however this will be at a lower rate than previously with $0.15 per share. In 2020 M suspended its quarterly dividend. The fashion retailer last hiked its dividend by 4.9 percent to $0.3775 per share in 2016 and did not announce dividend hikes in the last years before the COVID-19 suspension in 2020.

The next dividend of 15 cents will be paid on October 1, 2021 to shareholders of record on September 15. The ex-dividend date is September 14, 2021 and M currently yields 2.8% at a stock price of $21.61.

Macy’s, Inc. operates stores in the United States, the District of Columbia, Puerto Rico and Guam. The company's operations are conducted through Macy's, Bloomingdale's, Bloomingdale’s The Outlet, Macy’s Backstage, and bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under license agreements with Al Tayer Insignia, a company of Al Tayer Group, LLC. The company sells a wide range of merchandise, including apparel and accessories (men’s, women’s and kids'), cosmetics, home furnishings and other consumer goods. The specific assortments vary by size of store, merchandising assortments and character of customers in the trade areas. Most stores are located at urban or suburban sites, principally in densely populated areas across the United States. Macy's is a corporation organized under the laws of the State of Delaware in 1985. The company and its predecessors have been operating department stores since 1830. Macy’s, Inc. is headquartered in New York, New York.