Pep Boys (PBY) Automotive Parts and Accessories Message Board

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Non-Tech : Pep Boys (PBY) Automotive Parts and Accessories

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To: LLCF who wrote (82)	3/31/1998 8:45:00 PM
From: Investor2	Read Replies (1) of 116

> PHILADELPHIA--(BUSINESS WIRE)--March 31, 1998--The board of directors of Pep Boys -- Manny, Moe & Jack (NYSE: "PBY"), the nation's leading automotive aftermarket retail and service chain, approved an 8% increase in the cash dividend. This is the 22nd consecutive year that the cash dividend has been increased and the 48th consecutive year that a cash dividend has been paid. The increased dividend of $.26 annually and $.065 quarterly will be paid on April 27, 1998, to holders of record on April 13, 1998. ___________________________________________________________ David, you asked if Pep Boys can afford the dividend increase. In light of the fact that they have raised the dividend for 22 years in a row, I'm sure that they want to keep their dividend increase record in tact. Based on the Dividend Payout percentage, it certainly appears that PBY has lots of room to continue to raise the dividend. The payout percentage for the last seven years is tabulated below. Year Dividend Payout (% of Net Profit) Latest 12 months 30.00 1997 12.96 1996 14.18 1995 12.88 1994 14.15 1993 15.56 1992 18.84 Best wishes, I2

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