Nordstrom declares quarterly dividend & adds former CEO to BOD
22 Feb '06
2 min read
Fashion specialty retailer Nordstrom Inc's board of directors has approved a quarterly dividend of $0.105 per share, an increase of 24 percent or $0.02 per share. This cash dividend is payable on March 15th 2006, to shareholders of record on February 28th 2006.
The board also announced the addition of Philip Satre, retired Chairman of the Board and former CEO of Harrah's Entertainment Inc. He worked for Harrah's for nearly 25 years. Well-respected in his field, he has received many honors and awards for his business and humanitarian efforts.
Bruce Nordstrom, Chairman of the Board, Nordstrom Inc said, "We are pleased that Philip Satre has agreed to join our board."
"Philip will be a strong resource for our company with his terrific track record in business and leadership," he added.
Satre also serves on several corporate and non-profit boards, including Rite Aid Corporation, the Nevada Cancer Institute, the National D-Day Museum Foundation board of trustees, the UC Davis School of Law Alumni Association board and the Stanford University board of trustees.
Nordstrom Inc is one of the nation's leading fashion specialty retailers, with 155 US stores located in 27 states.
Founded in 1901 as a shoe store in Seattle, Nordstrom operates 98 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store, and two clearance stores. It also operates 32 international Faconnable boutiques in Europe.