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Carter's announces $300M share repurchase plan, initiates quarterly dividend

Carter's announced that its Board of Directors has approved a $300M share repurchase authorization and instituted a quarterly dividend as part of the company's strategy to return excess capital to shareholders. The share repurchase authorization permits the company to repurchase shares of its common stock up to $300M, inclusive of approximately $38M remaining under previous authorizations. The Board authorized a quarterly cash dividend of 16c per share to be paid June 14 for shareholders of record at the close of business on May 31. The quarterly dividend is the first for Carter's since becoming a public company in 2003