Stein Mart Boosts Quarterly Dividend 50%

(RTTNews) - Stein Mart, Inc. (SMRT) said Thursday that its Board of Directors has declared a quarterly dividend of $0.075 per common share, payable on July 18 to shareholders of record on July 3, 2014.

The dividend is a 50 percent increase over the previous quarterly dividend of $0.05 per share.

"We are confident in the continuing improvement in our financial results and our generating more cash than we need for our investments in growth," said Jay Stein, Stein Mart Chief Executive Officer. "Increasing our dividend is a great way to use our cash and increase shareholder value."