Academy Sports + Outdoors Unveils $700M Buyback and Dividend
Academy Sports + Outdoors Announces Major Shareback Program
Academy Sports and Outdoors, Inc. (the “Company” or “Academy”) is excited to share a recent decision made by its Board of Directors, which could herald new growth opportunities for the company. The Board has approved a significant share repurchase program that authorizes the repurchase of up to $700 million of the company’s outstanding common stock. This initiative reflects Academy's confidence in its financial standing and aims to enhance shareholder value.
Significance of the New Share Repurchase Program
This new share repurchase program replaces the previous initiative, under which there was about $423 million left by the close of the third quarter of fiscal year 2024. Effective December 4, 2024, this program will be in action for a period of three years. This strategic move showcases Academy’s commitment to returning value to its shareholders while managing its capital effectively.
Quarterly Cash Dividend Declaration
In addition to the repurchase program, the Company’s Board also declared a quarterly cash dividend of $0.11 per share. This dividend pertains to the fiscal quarter that concluded on November 2, 2024. The dividend will be payable on January 15, 2025, for shareholders who are on record by December 18, 2024. Such actions not only highlight Academy's robust financial health but also its dedication to rewarding its stockholders consistently.
A Deep Dive into Academy Sports + Outdoors
Founded in 1938, Academy has evolved into a leading full-line sporting goods and outdoor recreation retailer in the United States. With 298 stores across 19 states, Academy’s growth reflects its successful, family-oriented business approach rooted in Texas. The mission to provide “Fun for All” is apparent through its localized merchandising strategy, ensuring consumers find products that resonate with their needs.
Product Offerings and Market Position
Academy has built a diverse assortment of products that includes outdoor gear, apparel, sports equipment, and footwear. These offerings are derived from a combination of leading national brands alongside an expansive portfolio of private label brands. The multifaceted approach allows Academy to cater to a broad demographic, making it a preferred destination for various consumer groups.
Connecting with Customers and the Community
Academy’s commitment to its customers extends beyond mere products; it emphasizes engaging with the community through various initiatives. By providing exceptional service and fostering relationships, Academy strives to ensure each customer experiences the joy of outdoor and sports activities.
Frequently Asked Questions
What does the new share repurchase program entail?
The new program allows Academy Sports + Outdoors to repurchase up to $700 million of its outstanding common stock over three years.
How much is the newly declared quarterly cash dividend?
The quarterly cash dividend is set at $0.11 per share of the company’s common stock.
When will the dividend be paid out to shareholders?
The dividend will be payable on January 15, 2025, to stockholders on record as of December 18, 2024.
How many stores does Academy operate?
Academy operates 298 stores across 19 states in the United States.
What is the mission of Academy Sports + Outdoors?
Academy’s mission is to provide “Fun for All,” connecting deeply with customers through personalized merchandising and a varied product offering.
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