Gap Inc. Announces Plan to Increase Dividend by 25 Percent
25 February 2022 - 8:30AM
Business Wire
Gap Inc. (NYSE: GPS) today announced its board of directors
approved plans to increase the company’s annual dividend per share
to $0.60 in fiscal year 2022, a 25 percent increase from the
company’s current annualized rate of $0.48.
The company announced that its board of directors has authorized
a first quarter fiscal year 2022 dividend of $0.15 per share,
payable on or after April 27, 2022 to shareholders of record at the
close of business on April 6, 2022.
Forward-Looking Statements
This press release contains forward-looking statements within
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than those that are purely
historical are forward-looking statements. Words such as “expect,”
“anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,”
and similar expressions also identify forward-looking statements.
Forward-looking statements include statements regarding future
share repurchases, including the potential timing and amounts
thereof.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause the
company’s actual results to differ materially from those in the
forward-looking statements. Information regarding factors that
could cause results to differ can be found in the company’s Annual
Report on Form 10-K filed with the Securities and Exchange
Commission on March 16, 2021, as well as the company’s subsequent
filings with the Securities and Exchange Commission. These
forward-looking statements are based on information as of February
24, 2022. The company assumes no obligation to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any projected results expressed or
implied therein will not be realized.
About Gap Inc.
Gap Inc., a collection of purpose-led lifestyle brands, is the
largest American specialty apparel company offering clothing,
accessories, and personal care products for men, women, and
children under the Old Navy, Gap, Banana Republic, and Athleta
brands. The company uses omni-channel capabilities to bridge the
digital world and physical stores to further enhance its shopping
experience. Gap Inc. is guided by its purpose, Inclusive, by
Design, and takes pride in creating products and experiences its
customers love while doing right by its employees, communities, and
planet. Gap Inc. products are available for purchase worldwide
through company-operated stores, franchise stores, and e-commerce
sites. Fiscal year 2020 net sales were $13.8 billion. For more
information, please visit www.gapinc.com.
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Investor Relations Contact: Emily Gacka (415) 427-1972
Investor_relations@gap.com
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