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

Ross Stores, Inc. (NASDAQ:ROST) announced a quarterly dividend on Wednesday, May 20th. Stockholders of record on Tuesday, June 9th will be paid a dividend of 0.445 per share by the apparel retailer on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 9th.

Ross Stores has raised its dividend payment 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% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ross Stores to earn $8.09 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 22.0%.

Ross Stores Stock Up 2.4%

Shares of ROST opened at $217.79 on Thursday. The stock has a market capitalization of $70.16 billion, a PE ratio of 32.95, a P/E/G ratio of 2.81 and a beta of 0.87. Ross Stores has a 1 year low of $124.49 and a 1 year high of $231.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.58. The company’s 50-day simple moving average is $218.54 and its 200-day simple moving average is $196.37.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.10. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 earnings per share. Analysts forecast that Ross Stores will post 7.37 earnings per share for the current fiscal year.

About Ross Stores

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.