VF Corporation | Dividend raised by 2% in 2021

Vans owner VF Corp has raised its dividend 49 years in a row © dividendtrackrecords.com

Dividend Aristocrat VF Corporation (symbol VFC) will also hike its dividend in 2021 with a 2 percent increase to 50 cents per share. This marks 49 consecutive years of dividend increases in a row for the company behind brands such as Vans, Timberland and The North Face.

VF Corp will hike its dividend to 50 cents quarterly, with the next dividend payable on December 20, 2021 to shareholders of record on December 10. The ex-dividend date for the next VFC payment is December 9, 2021. At a stock price of $72 the new dividend yield for VF Corporation is 2.7%.

VF is also reinstating its share repurchase program, under which it is authorized to repurchase up to $2.8 billion of its common stock. This plan was suspended on April 7, 2020 as a precaution due to the COVID-19 pandemic.  VF states that it intends to continue to pay its regularly scheduled dividend and is not currently contemplating the suspension of its dividend.

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For shareholders of VF Corp the last two years have not been great with a small dividend hike and a stock price under pressure. In 2021 the stock is down almost 16 percent, following a 14 percent loss in 2020. If we include this new dividend hike VF will pay shareholders an estimated $785 million in dividends annually.

V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The company's segments include Outdoor, Active and Work. It owns a portfolio of brands in the outerwear, footwear, apparel, backpack, luggage and accessories categories, including Dickies, The North Face, Vans and Timberland. VF Corp is a Dividend Aristocrat with more than 25 years in a row of increased dividends.