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.

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