Ross Stores Announces Two-for-One Stock Split and Quarterly Cash Dividend Payment
NEWARK, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) announced today that its Board of Directors approved a two-for-one stock split to be effected in the form of a 100 percent stock dividend to be paid on or about December 18, 2003 to stockholders of record as of December 2, 2003.
In addition, the Board of Directors declared a regular quarterly cash dividend of $.0575 per common share, on a pre-split basis, payable on or about January 2, 2004 to stockholders of record as of December 2, 2003.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented on these actions, saying, "Through 2002, Ross Stores has delivered nine consecutive years of sales and earnings growth. These gains have continued into 2003, with sales and earnings for the first nine months reaching new record levels. The actions taken today reflect the Board of Directors' and management's ongoing confidence in the Company's future growth prospects along with our continued commitment to enhancing stockholder value."
Ross Stores, Inc. operates a national chain of 573 off-price retail stores in 25 states, offering first quality, in-season, branded apparel and apparel-related merchandise for the entire family at prices that average 20% to 60% less than department and specialty stores, as well as merchandise for the home at similar savings. Additional information can be found on the Company's website at www.rossstores.com
SOURCE Ross Stores, Inc.
John G. Call, Senior Vice President, Chief Financial Officer, +1-510-505-4315, or
Katie Loughnot, Vice President, Investor Relations, +1-510-505-4509, or firstname.lastname@example.org,
both of Ross Stores, Inc./
/Web site: http://www.rossstores.com / (ROST)