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Dow Jones Newswires: Guess doubles its dividend, stock jumps after earnings – Vested Daily

Dow Jones Newswires: Guess doubles its dividend, stock jumps after earnings

November 23, 2021

Shares of clothing company Guess Inc. were trading higher in Tuesday’s after-hours session, following news the company’s board declared a dividend of 22.5 cents a share, up from the previous dividend of 11.25 cents a share.

The new dividend will be payable Dec. 24 to shareholders of record at the close of business on Dec. 8, the company said.

At 4:27 p.m. ET, shares of Guess
GES,
-4.61%
were trading 5.9% higher, at $22.55. Volume at the time topped 56,000 shares.

The company’s stock finished the day’s regular-trading session with a 4.6% loss, closing at $21.30.

After the bell Tuesday, the company reported third-quarter earnings per share of 45 cents on revenue of $643.1 million. In the year-ago period, the company reported EPS of 18 cents on revenue of $615.9 million.

Guess also said it is expecting revenue in the fourth quarter of fiscal 2022 to be down mid-single digits versus the fourth quarter of fiscal 2020.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

This post was originally published on Market Watch