BIG - Big Lots suspends quarterly dividend amid macroeconomic challenges

2023-05-26 07:11:26 ET

• On May 23, 2023, the Board of Directors of Big Lots ( NYSE: BIG ) declared a suspension of the dividend.
• The company did not execute any share repurchases during the first quarter and has $159M remaining under its December 2021 $250Mauthorization.
• Commenting on today's results announcement , Bruce Thorn, President and CEO of Big Lots stated, "Macro-economic headwinds have created significant challenges for us, which are reflected in our results and outlook. But we are confident that these headwinds will abate, and that when they do, we will see a major boost to our business.  In particular, we expect furniture and seasonal to return to being the strong growth drivers for our business they have been in the past, as consumer confidence improves and as we continue to bring newness and incredible value to our assortment."
• See BIG Dividend Scorecard, Yield Chart, & Dividend Growth.

For further details see: