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Williams-Sonoma Announces Increased Dividend & Stock Repurchase
March 16,
2024 by HFBusiness Staff in Business Strategy, Industry 
Williams-Sonoma, Inc. announced that its Board of Directors has authorized a 26% increase in the company’s quarterly cash dividend to $1.13 per common share. The quarterly dividend is payable on May 24, 2024, to stockholders of record as of the close of business on April 19, 2024.
The Board of Directors also approved a new $1 billion stock repurchase authorization, which supersedes the company’s current stock repurchase authorization.
“After our strong finish to 2023, we are proud to be positioned to increase our quarterly dividend 26% and expand our stock repurchase program to $1 billion,” said Laura Alber, president and CEO.
“These actions reflect our on-going commitment to maximize shareholder value and deliver returns to our shareholders.”
“We are proud of our fifteen consecutive years of increased dividend payouts,” added Jeff Howie, CFO.
“Over the last six years, we have returned over $3.7 billion to shareholders through dividends and share repurchases. Our consistent profitability, coupled with our strong cash flows, have positioned us to provide these returns to our shareholders.”
This new stock repurchase authorization is effective as of March 14, 2024, and results in $1 billion available for future repurchases under the company’s stock repurchase authorization. The company’s stock repurchase program authorizes the purchase of the company’s common stock through open market and privately negotiated transactions, including through Rule 10b5-1 plans, at such times and in such amounts as management deems appropriate.
The timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements, capital availability and other market conditions. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.