Retailer Stage Stores Inc.'s (SSI) board has approved an increase in its quarterly dividend rate to 12.5 cents per share from the prior rate of 10 cents per share. The new quarterly rate of 12.5 cents per share would be applicable to dividends declared by the board beginning May 23, 2013.
President and Chief Executive, Michael Glazer, noted, "This 25 percent increase reflects our intent to create value through increasing shareholder distributions, and is a testament to the strength of our balance sheet and our confidence in delivering future growth."
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