FORT MYERS, Fla., Nov. 24, 2015 /PRNewswire/ -- Chico's FAS, Inc. (NYSE: CHS) today announced that its Board of Directors has approved a new $300 million share repurchase authorization for the Company's common stock and canceled the remainder of its December 2013 share repurchase program, reinforcing the Company's commitment to returning excess cash to shareholders. During fiscal 2015, the Company repurchased 14.6 million shares under accelerated stock repurchase agreements, completing all but $40 million of its existing share repurchase authorization.
The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.0775 per share of its common stock, a 3.3% increase over the dividend rate from December 2014. The dividend is payable on December 21, 2015 to Chico's FAS shareholders of record at the close of business on December 7, 2015.
ABOUT CHICO'S FAS, INC.
The Company, through its brands – Chico's, White House | Black Market, Soma, and Boston Proper, is a leading omni-channel specialty retailer of women's private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items.
As of October, 2015, the Company operated 1,546 stores in the US and Canada and sold merchandise through franchise locations in Mexico. The Company's merchandise is also available at www.chicos.com, www.whbm.com, www.soma.com, and www.bostonproper.com. For more detailed information on Chico's FAS, Inc., please go to our corporate website at www.chicosfas.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 Certain statements contained herein, including without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the Company or future results or events constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known or unknown risks, including, but not limited to, general economic and business conditions, and conditions in the specialty retail industry. There can be no assurance that the actual future results, performance, or achievements expressed or implied by such forward-looking statements will occur. Investors using forward-looking statements are encouraged to review the Company's latest annual report on Form 10-K, its filings on Form 10-Q, management's discussion and analysis in the Company's latest annual report to stockholders, the Company's filings on Form 8-K, and other federal securities law filings for a description of other important factors that may affect the Company's business, results of operations and financial condition. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that projected results expressed or implied in such statements will not be realized.
Jennifer Powers Adkins
Vice President – Investor Relations
Chico's FAS, Inc.
SOURCE Chico's FAS, Inc.