Why Dillard's Stock Is Surging Again Today

Dillard's Inc DDS is trading higher again Monday after the company announced a share repurchase program and declared a dividend over the weekend. 

What Happened: Dillard's stock traded higher on Friday after the company reported a significant year-over-year earnings and revenue increase. Dillard's reported earnings of $7.25 per share and revenue of $1.33 billion, which was better than the earnings loss of $6.94 per share and the $786.7 million in revenue the company reported in the first quarter of 2020.

On Saturday, Dillards announced its board of directors approved a share repurchase program authorizing the company to repurchase up to $500 million of common stock. The company also declared a cash dividend of $0.15 per share.

Price Action: Dillard's stock is making new 52-week highs today. At last check Monday, it was up 13% at $141.77.

Photo by Aaron Burr from Flickr.