Leading lifestyle retailer American Eagle Outfitters Inc announced that its Board of Directors authorized an additional 2.1 million shares for its repurchase program. Combined with the remaining 1.4 million shares available under its current Board Authorization, the company has a total of 3.5 million shares available for repurchase.
The Board of Directors also declared a quarterly cash dividend of $0.075 per share payable on October 7, 2005 to stockholders of record at the close of business on September 23, 2005. CEO, Jim O'Donnell commented, "In light of substantial cash balance and strong free cash flow, they are pleased to provide additional value to shareholders through a combination of share repurchases and cash dividend payments."
Warrendale based American Eagle Outfitters is a leading lifestyle retailer that designs, markets, and sells its own brand of relaxed, casual clothing for 15 to 25 year olds, providing high-quality merchandise at affordable prices.
AE's collection includes modern basics like jeans, cargo pants, and graphic Ts as well as a stylish assortment of cool accessories, outerwear and footwear. American Eagle Outfitters currently operates 783 AE stores in 50 states, the District of Columbia and Puerto Rico, and 71 AE stores in Canada.
American Eagle Outfitters Inc