The cash dividend will be payable March 28, 2014 to stockholders of record at the close of business on March 7, 2014. This dividend represents an increase of 6.7% compared to the Company's previous quarterly dividend amount.
Ed Krell, Chief Executive Officer and Director of Destination Maternity, noted, "Given our strong balance sheet, and the strong profitability and cash flow generation of our Company, we believe the total return to our stockholders will be further enhanced by increasing our regular quarterly cash dividend."
Destination Maternity Corporation is the world's largest designer and retailer of maternity apparel. In the United States and Canada, as of December 31, 2013, Destination Maternity operates 1,923 retail locations, including 595 stores, predominantly under the tradenames Motherhood Maternity, A Pea in the Pod, and Destination Maternity, and 1,328 leased department locations, and sells on the web through its DestinationMaternity.com and brand-specific websites.
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