SAN FRANCISCO - August 16, 2012 - (BUSINESS WIRE) - Gap Inc. (NYSE: GPS) today announced that its Board of Directors authorized a quarterly dividend of $0.125 per share payable on or after October 24, 2012 to shareholders of record at the close of business on October 10, 2012.
Earlier this year, the company’s Board of Directors approved a $1 billion share repurchase authorization and a plan to increase the annual dividend per share by 11 percent for fiscal year 2012. Since 2005, Gap Inc. has nearly tripled its dividend.
This press release contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Forward-looking statements include the statement regarding dividends per share in fiscal year 2012.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. Factors that could cause results to differ can be found in the “Risk Factors” section of the company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2012, as well as the company’s subsequent filings with the Securities and Exchange Commission.
These forward-looking statements are based on information as of August 15, 2012. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands. Fiscal 2011 net sales were $14.5 billion. Gap Inc. products are available for purchase in about 90 countries worldwide through about 3,000 company-operated stores, over 200 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.