Williams-Sonoma raises dividend, resumes share buyback

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Williams-Sonoma Inc. said late Monday its board of directors has OK’d a 10% dividend increase to 53 cents a share. The dividend is payable on Nov. 27 to stockholders of record on Oct. 23. The retailer also said it has resumed its share buyback program, given “the on-going strength of its business and liquidity position,” and that it paid back in full short-term borrowings. “Our decisions to increase our quarterly dividend, resume our share buyback program and pay down our revolver reflect the strength of our business and financial position, and our commitment to maximizing returns for our shareholders,” Chief Executive Laura Alber said in a statement. Shares of Williams-Sonoma rose 1.4% in the extended session Monday after ending the regular trading day down 0.5%.
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