Ross Stores, Inc. (NASDAQ:ROST) Announces $0.45 Quarterly Dividend

Key Points

• Ross Stores declared a quarterly dividend of $0.445 per share, payable September 30 to shareholders of record on September 8. The dividend implies an annualized payout of $1.78 and a 0.8% yield.
• The company has raised its dividend for six consecutive years, with a 26.3% payout ratio. Analysts expect future earnings to comfortably cover the projected annual dividend.
• Ross Stores recently exceeded quarterly expectations, reporting EPS of $2.02 versus the $1.73 consensus and revenue of $6.01 billion, up 20.6% year over year.

Ross Stores, Inc. (NASDAQ:ROST - Get Free Report) declared a quarterly dividend on Wednesday, August 19th. Investors of record on Tuesday, September 8th will be paid a dividend of 0.445 per share by the apparel retailer on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 8th.

Ross Stores has increased its dividend by an average of 0.4%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Ross Stores has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ross Stores to earn $8.50 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 20.9%.

Ross Stores Stock Down 0.7%

NASDAQ:ROST opened at $234.69 on Thursday. Ross Stores has a one year low of $143.39 and a one year high of $257.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 0.94. The company has a market cap of $75.28 billion, a PE ratio of 32.78, a P/E/G ratio of 2.64 and a beta of 0.86. The firm's 50 day simple moving average is $234.03 and its 200 day simple moving average is $221.46.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.29. The firm had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.64 billion. Ross Stores had a net margin of 9.74% and a return on equity of 38.42%. The company's revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 EPS. On average, research analysts anticipate that Ross Stores will post 7.78 earnings per share for the current year.

Ross Stores Company Profile

Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.

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