Family Dollar Stores, Inc. (NYSE:FDO) has declared its quarterly cash dividend of $0.155 per share. The dividend will be payable on Thursday, April 15, 200. Shareholders of record at the close of business on Monday, March 15, 2010, is eligible to receive payment. This quarter’s cash dividend is 14.8% more than the previous cash dividend of $0.135 per share. Family Dollar Chairman and Chief Executive Officer Howard Levine, notes that this year represents the company’s 34th year of increased dividends. He states that the consecutive increases reveal the company’s strong financial position.
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Family Dollar Stores, Inc. (Family Dollar) operates a chain of more than 6,600 general merchandise retail discount stores in 44 states, providing consumers with a selection of merchandise in neighborhood stores. The Company’s merchandise assortment includes consumables, home products, apparel and accessories, and seasonal and electronics. The Company’s products include health and beauty aids, packaged food and refrigerated products, home cleaning supplies, housewares, stationery, seasonal goods, apparel and domestics. During the fiscal year ended August 30, 2009 (fiscal 2009), the Company opened 180 stores, closed 96 stores, relocated 10 stores within the same shopping center or market area, and expanded or renovated 41 stores. During fiscal 2009, approximately 20% of the Company’s stores were located in large urban markets (markets with populations above 200,000), and approximately 26% of the Company’s stores were located in small urban markets or suburban areas.
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