Leading lifestyle retailer American Eagle Outfitters Inc announced that its Board of Directors authorized an additional 4.5 million shares for its repurchase program. During the third quarter, the company completed the repurchase of the 6 million shares that were available under its previous authorizations.
The Board of Directors also declared a quarterly cash dividend of $0.075 per share payable on January 6, 2006 to stockholders of record at the close of business on December 23, 2005.
"As part of strategy to generate value for shareholders, they are pleased to announce an additional stock repurchase authorization, which signals confidence in American Eagle's earnings potential, growth prospects and financial position," stated CEO, Jim O'Donnell.
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