Gildan Activewear (GIL) Declares $0.075 Quarterly Dividend; 1% Yield; Authorizes 1M Common Buyback

Gildan Activewear Inc. (NYSE: GIL) is pleased to announce that its Board of Directors has approved the introduction of a quarterly cash dividend. The initial quarterly dividend of $0.075 per share, $0.30 annualized. The dividend will be paid on March 18, 2011, to shareholders of record on February 23, 2011. The ex-dividend date is February 21, 2010. Yield on the dividend is 1%. In addition, the Company announced that it is reinstating a normal course issuer bid to repurchase outstanding shares of the Company in the open market. Gildan intends to purchase up to 1,000,000 common shares, representing approximately 0.8% of the Company's issued and outstanding common shares.... Read more

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