Declares Quarterly Dividend of $0.10 Per Share
WARRENDALE, PA., June 12 /CNW/ - American Eagle Outfitters, Inc.
(NYSE: AEO) today announced that its Board of Directors has voted to raise its
cash dividend payment by 33% to an annual rate of $0.40 per share, from the
current rate of $0.30 per share. A quarterly cash dividend of $0.10 per share
was declared and is payable on July 13, 2007, to stockholders of record at the
close of business on July 2, 2007.
"Our decision to significantly increase the dividend signals our
continuing confidence in the strong growth prospects and future financial
performance of American Eagle. We will continue to seek to enhance shareholder
value through dividends and share repurchases, along with strategies to
maximize the potential of our brands and pursue new growth concepts," said
American Eagle CEO Jim O'Donnell.
About American Eagle Outfitters
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading retailer that
operates under the American Eagle Outfitters and MARTIN + OSA brands.
American Eagle Outfitters designs, markets and sells its own brand of
laidback, current clothing targeting 15 to 25 year-olds, providing
high-quality merchandise at affordable prices. AE's original collection
includes standards like jeans and graphic Ts as well as essentials like
accessories, outerwear, footwear, basics and swimwear. American Eagle
currently operates 840 stores in 50 states, the District of Columbia and
Puerto Rico, and 74 AE stores in Canada. American Eagle also operates ae.com,
which offers additional sizes and styles of favorite AE merchandise and ships
around the world. The American Eagle brand also includes a new collection of
dormwear and intimates, "aerie by American Eagle." aerie is available in
American Eagle stores across the country and at aerie.com. It includes bras,
undies, camis, hoodies, robes, boxers, sweats and leggings for the AE girl.
Designed to be sweetly sexy, comfortable and cozy, aerie offers AE customers a
new way to express their personal style everyday, from the dormroom to the
coffee shop to the classroom.
The company introduced MARTIN + OSA, a new sportswear concept targeting
25 to 40 year-old women and men. MARTIN + OSA carries apparel, accessories and
footwear, using denim and sport inspiration to design fun and sport back into
sportswear. MARTIN + OSA currently operates nine stores. For additional
information and updates, visit martinandosa.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: This release contains forward-looking statements, which represent
our expectations or beliefs concerning future events, specifically regarding
future growth and profitability. All forward-looking statements made by the
Company involve material risks and uncertainties and are subject to change
based on factors beyond the Company's control. Such factors include, but are
not limited to the risk that our sales, markdowns and/or earnings expectations
may not be achieved, and those other risks described in the Risk Factor
Section of the Company's most recent Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission. Accordingly, the Company's future
performance and financial results may differ materially from those expressed
or implied in any such forward-looking statements. The Company does not
undertake to publicly update or revise its forward-looking statements even if
future changes make it clear that projected results expressed or implied will
not be realized.
For further information:
For further information: American Eagle Outfitters, Inc. Judy Meehan,
724-776-4857 OR Financial Media Contact Berns Communications Group Stacy Berns
or Melissa Jaffin, 212-994-4660