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HanesBrands increases dividend by 50 percent

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January 28, 2014 04:57 PM EST | AP


WINSTON-SALEM, N.C. (AP) — HanesBrands Inc. said Tuesday that it is raising its dividend 50 percent, or 10 cents, to 30 cents after recent strong earnings growth.

The T-shirt and underwear maker will pay the dividend on March 11 to shareholders as of Feb. 18.

The company, based in Winston-Salem, N.C., owns brands such as Hanes, Champion and Playtex. It bought a competitor, Maidenform, in October for about $583 million.

In the first nine months of last year, HanesBrands' net income more than tripled. The company expects to report its fourth-quarter results on Wednesday.

HanesBrands shares fell 3 cents to close at $64.17 and were unchanged in after-hours trading.