Macy’s Inc. increased its quarterly dividend by 5%. The new payout exceeds $0.19 per share. Management signaled confidence in the business despite current financial headwinds.
Company shares rose 4.74% following the announcement. The stock reached a 20-day high.
Annual net sales totaled $21.8 billion. This represents a 2.4% decrease from the previous year. Comparable sales grew by 1.5%.