NEW YORK — Federated Department Stores has declared its first stock dividend in 15 years and authorized another $500 million to be used for stock repurchases.
The quarterly dividend of 12.5 cents a share will be payable July 1 to shareholders of record June 16 and is expected to result in annual disbursements of $95 million. Cincinnati-based Federated last paid dividends in 1988, before being acquired by Canadian real estate entrepreneur Robert Campeau and later going bankrupt.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)