Dick’s Feels Bullish Enough to Restore Dividend, Salaries
In a sign of how confident Dick’s Sporting Goods is in the strength of sales in reopened stores, the company announced Friday that it is restoring its dividend to stockholders.
The company has also restored full pay to salaried employees whose pay had been cut when stores were closed and recalled nearly every employee from furlough to return to work.
Many companies temporarily suspended their dividend when the severity of the coronavirus crisis became evident. Dick’s will pay its dividend on June 30.
Dick’s said it also may restart “opportunistic” share repurchases.
Last week, Dick’s said that about 80% of its stores had reopened, and that most were comping positive.