Williams-Sonoma Shares Rise on Raised Payout, Resumed Buyback

Shares of Williams-Sonoma  (WSM) – Get Report were higher Tuesday after the home-goods retailer said it would hike its quarterly dividend by 10% and resume its share buyback program.

The stock of the San Francisco company at last check was up 5.2% to $104.89. In 2020 through Monday’s close, the stock had risen 36%. 

The stock is trading around its 52-week high. It has quadrupled off its 52-week low above $26, set in mid-March.

The company, which also operates Pottery Barn, on Monday said it resumed its buyback and paid down all its short-term debt related to a $500 million revolving-credit line.

The new quarterly dividend, 53 cents a share up from 48 cents, is payable Nov. 27 to holders of record Oct. 23.

“Our decisions to increase our quarterly dividend, resume our share buyback program and pay down our revolver reflect the strength of our business and financial position, and our commitment to maximizing returns for our shareholders,” said President and Chief Executive Laura Alber in a statement.

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