DICK'S Sporting Guides FY20 EPS In Line With Estimates; Boosts Dividend 13.6%

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, sporting goods retailer DICK'S Sporting Goods Inc. (DKS) initiated its earnings and consolidated same store sales guidance for the full-year 2020. For the fourth quarter, consolidated same store sales increased 5.3 percent.

For fiscal 2020, the company now projects earnings in a range of about $3.60 to 4.00 per share. Consolidated same store sales are currently expected to be between about flat and an increase of 2 percent, compared to a 3.7 percent increase in 2019.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.85 per share for the year. Analysts' estimates typically exclude special items.

The company also expects to open nine new DICK'S Sporting Goods stores and six new Golf Galaxy stores in 2020, while relocating 14 DICK'S Sporting Goods stores three Golf Galaxy stores.

On March 6, the Company's Board of Directors authorized and declared a 13.6 percent higher quarterly dividend of $0.3125 per share on the Company's Common Stock and Class B Common Stock, payable in cash on March 27, 2020 to stockholders of record at the close of business on March 20, 2020.