GRAPEVINE, Texas — GameStop Corp. (NYSE: GME), the world’s largest multichannel video game retailer, today announced its board of directors approved the initiation of a quarterly dividend to its shareholders of $0.15 per share. The first quarterly dividend will be paid on Mar. 12, 2012 to all shareholders of record as of Feb. 21, 2012. Future dividends will be subject to board approval.
“We have achieved our goal of eliminating debt and are pleased to return excess cash to our shareholders,” said Dan DeMatteo, executive chairman, GameStop Corp. “The board’s decision to initiate a dividend reflects GameStop’s strong capital position and demonstrates our confidence in the long term viability of our business.”
Since initiating a disciplined capital allocation plan in Jan. 2010, the company’s stock and debt buybacks have totaled more than one billion dollars and GameStop now operates debt free.
