Hasbro hikes dividend by 2.9%

Hasbro (HAS) will raise its quarterly dividend by 2.9 percent to 70 cents per share in 2022. This follows a dividend hike of 7.9 percent to $0.68 per share in the first quarter of 2019, at the time marking 16 years in a row of increases.

The next HAS dividend will be payable on May 16, 2022 to shareholders of record at the close of business on May 2, 2022. During the fourth quarter, Hasbro paid $93.8 million in cash dividends to shareholders, bringing the full-year payments to $374.5 million. A new annualized dividend rate of $2.72 per share yields 2.9% at a stock price of $93.

"Throughout 2021, and finishing with focused execution in the fourth quarter, the Hasbro team did an excellent job in unprecedented circumstances," said Deborah Thomas, Hasbro chief financial officer. "We delivered strong results, including 17% revenue growth for the year, higher operating profit margins and $818 million in operating cash flow, while successfully navigating supply chain challenges, including higher fourth quarter input and freight costs across our business. This enabled us to continue investing in growth initiatives, pay off $1.08 billion in long-term debt in 2021 and continue supporting our dividend which the Board increased 3% today.

Hasbro, Inc. is a branded-play and entertainment company. Its products vary from toys and games to television, movies, digital gaming and consumer products. Hasbro's brands include My Little Pony, Transformers, Play-Doh, Nerf, Baby Alive, Magic and Monopoly. Through its entertainment labels, Allspark Pictures and Allspark Animation, the Company is building its brands globally through great storytelling and content on all screens.