Shares of Buckle Inc.
BKE,
+1.94%
surged 7.6% in premarket trading Monday, after the apparel, footwear and accessories retailer announced a special dividend of $5.65 per share, and an increase in the quarterly dividend to 35 cents a share from 33 cents. The company said shareholders of record on Dec. 20 will be paid both the special and quarterly dividend on Dec. 29. The special dividend represents 12.1% of the stock’s closing price of $46.88, while the new annual dividend rate implies a dividend yield of 2.99%. In comparison, the implied dividend yield for the S&P 500
SPX,
+0.95%
is 1.36%. The stock has gained 17.6% over the past three months through Friday while the S&P 500 has inched up 0.1%.
