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For a brief time, the dividend yield on the stock of Chico's FAS hit 2% when the company's stock fell 14% after recent earnings disappointed investors.
Fort Myers-based Chico's only started paying a small dividend in February 2010, the first time it had done so since the company became publicly traded in March 1993 (symbol: CHS).
When Chico's stock closed at $9.94 on Nov. 22 after disappointing earnings, the annual dividend yield hit 2% based on the annual 20-cent-per-share payout.
Besides the higher dividend yield, the company has no debt and nearly $240 million in cash and marketable securities on its balance sheet. It also recently announced a $200 million share buyback program.
At this level, it's fair to say that Chico's is still firmly in the “value” category of stocks.
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