Academy Sports and Outdoors, Inc. announced that its Board of Directors has approved the launch of a quarterly cash dividend.
The Board of Directors has declared a first quarter cash dividend for the three months ended January 29, 2022, of $0.075 per common share. The dividend is payable on April 14, 2022 to shareholders of record at the close of business on March 17, 2022.
“Today’s announcement of a quarterly cash dividend marks an important milestone for Academy, the result of our efforts to strengthen the company’s balance sheet and ability to generate sustainable cash flow. This dividend and our existing share buyback program demonstrates the confidence that our Board of Directors and our management team have in our growth initiatives and the future performance of our business, as well as our commitment to increasing total value for shareholders,” said Ken Hicks, Chairman, President and CEO. chief Executive Officer.
The Company intends to announce quarterly cash dividends, the declaration, timing, amount and payment of which will be subject to the discretion and approval of the Board, taking into account such considerations as the Board may deem relevant at that time, including, among other things, the company’s results, financial condition and capital allocation plans.
Photo courtesy of Sports + Outdoors Academy