The Board of Directors declared a dividend of $0.16 per share to the company’s shareholders on record as of September 14, 2018. This is an increase of 6.6% from the same period a year ago.
The New Jersey-based retailer repurchased about $22 million of its common stock, representing about 1.2 million shares, under its current $2.5 billion share repurchase program. By the end of the quarter, the company’s cash and investment balances increased by $281 million to $847 million.
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Shares of the retailer plunged more than 5% in after-hours trading on the dismal comp store numbers. The stock has been declining from poor to worse in the past one year, dipping about 34%, while falling about 8% since the beginning of this year.