Limited Brands Inc. (LTD) said its board declared a one-time
dividend of $1 a share, the latest shareholder-friendly move for
the parent of Victoria's Secret and Bath & Body Works.
Many companies have been setting special dividends of late, as
others have increased their regular payouts, among other efforts to
return value to shareholders. Limited Brands' efforts to that end
have included recent rounds of stock buybacks and an 33% annual
dividend increase in January.
The company had an average 328.5 million shares outstanding in
the quarter ended April 30, it said earlier this month.
The company's dominant positions in the intimate apparel and
beauty and personal-care segments have helped it post surging
same-store sales and improved margins. Earlier this month, it
reported its fiscal first-quarter earnings rose 47%.
Shares closed Friday at $39.55 and were inactive in recent
premarket trading.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com