Wrangler and Lee owner Kontoor Brands has declared a regular quarterly cash dividend of $0.50 per share of its common stock, an increase of $0.02 or 4%.

CEO Scott Baxter (pictured) said the business was strong, even during challenging macroeconomic conditions.

He said: “This increase reflects management and the board of directors’ confidence in our resilient operating model, which allows us to continue to invest in our diversified, accretive growth strategy, while also delivering superior cash returns to our shareholders.”

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