L Brands Inc., formerly Limited Brands, has raised its dividend 13 percent and declared a special $1-a-share dividend.
The Columbus, Ohio-based owner of Victoria’s Secret and Bath & Body Works has raised its annual dividend to $1.36 a share from its previous level of $1.20.
The first quarterly dividend at the higher rate, 34 cents a share, and the special $1 dividend, will be paid on March 7 to shareholders of record Feb. 21.
The company noted that, with these distributions, it will have returned more than $15 billion to shareholders since 2000.
The dividends paid next month will be the 157th consecutive quarterly dividend disbursed by the company.
The company on Jan. 9 lowered its fourth-quarter earnings guidance to approximately $1.60 a share from its earlier range of between $1.67 and $1.82 because of “lower than forecasted merchandise margins due to incremental promotional activity.” In the five weeks ended Jan. 4, comparable-store sales rose 2 percent, with comps at Victoria’s Secret up 3 percent and direct sales up 1 percent.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)