The Children's Place, the largest pure-play children's specialty US apparel retailer, announced quarterly cash dividend of $0.1325 per share and said it will also continue its share repurchase program.
In an earlier statement, Children's Place said that during the second quarter of 2014, the retailer repurchased 301,301 shares for approximately $14.5 million.
The retailer added that at the end of the second quarter, $73.7 million of the $100 million share repurchase program authorized in March 2014, remained available for future share repurchases.
CEO Jane Elfers informed, "The continuation of the quarterly dividend is a further reflection of our confidence in our ability to execute on our growth strategies and our continuing commitment to return excess capital to shareholders.
She added, “The Children's Place has a profitable business model which generates strong cash flow. Over the past five years, we have returned over $450 million to shareholders through dividends and share repurchases," concluded Ms. Elfers.
The quarterly cash dividend will be paid on October 17, 2014 to shareholders of record at the close of business on September 26, 2014.
The Children's Place manages 1,113 stores in the United States, Canada and Puerto Rico, an online store and 54 international stores operated by its franchise partners.