Department store operator Kohl's Corporation ( KSS ) on Thursday posted a 16% rise in fourth quarter profits and initiated its very first quarterly dividend payout of 25 cents per share.
The Menomonee Falls, WI-based company reported fourth quarter net income of $493 million, or $1.66 per share, compared with $431 million, or $1.40 per share, in the year-ago period.
Revenue rose 6% from last year to $6.04 billion.
On average, Wall Street analysts expected a slightly smaller profit of $1.65 per share, on matching revenue of $6.04 billion.
Looking ahead, Kohl's forecast full-year 2011 profit to range from $4.05 to $4.25 per share on implied revenue of $19.12 billion to 19.49 billion. Analysts expect a higher profit of $4.37 per share on $19.36 billion in revenue.
The company also boosted its share buyback program and announced its first quarterly dividend payout of 25 cents per share.
Kohl's shares fell 37 cents, or -0.7%, in premarket trading Thursday.
The Bottom Line
Shares of Kohl's ( KSS ) will have a 1.92% dividend yield, based on last night's closing stock price of $52.02. The stock has technical support in the $48-$49 price area. If the shares can firm up, we see overhead resistance around the $54-$56 price levels.
Kohl's Corporation ( KSS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Created by Dividend.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.