Family Dollar Stores Inc. has increased its quarterly dividend by 8 percent.
The Matthews-based discount chain has declared a quarterly cash dividend on its common stock of 13.5 cents per share, payable April 15 to shareholders of record on March 13.
The company's previous quarterly cash dividend was 12.5 cents per share.
"Increasing our dividend for the 33rd consecutive year reflects our confidence in the long-term growth opportunity for Family Dollar," says Howard Levine, chief executive.
Last week, the company reported a 14.1 percent increase in earnings for its first fiscal quarter ended Nov. 29.
Family Dollar earned $59.3 million, or 42 cents per diluted share, up from $51.9 million, or 37 cents per diluted share, a year earlier.
Revenue rose 4.2 percent to $1.75 billion, and comparable-store sales increased 2.1 percent.
Family Dollar (NYSE:FDO) operates more than 6,600 stores in 44 states.
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