Gap hikes dividend by 25%

The Gap Inc. (GPS) will raise its quarterly dividend by 25% to 15 cents per share in 2022. Last year GPS had reinstated its quarterly dividend with a new payment of 12 cents per share. Previously, the clothing retailer last raised its quarterly dividend by 5.4 percent to $0.2425 per share in the first quarter of 2018.

The next GPS dividend is payable on or after April 27, 2022 to shareholders of record at the close of business on April 6, 2022. A new annual dividend rate of 60 cents per share will yield 5% at a stock price of $11.94. The next ex-dividend date for GPS is April 5, 2022.

Gap Inc. is a global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, Janie and Jack, and Hill City brands. Gap has company-operated stores, franchise stores, and e-commerce sites. The omni-channel services, including curbside pick-up, buy online pick-up in store, order-in-store, find-in-store, and ship-from-store are tailored across its collection of brands.