Nordstrom (JWN) will restart its dividend payments with a 19 cent per share quarterly dividend in 2022. The fashion retailer suspended its quarterly dividend in 2020 because of the COVID-19 pandemic. Previously the company last hiked its quarterly dividend in 2015 (+12.1 percent). Since the department store operator did not announce a higher dividend and eventually suspended its payment in 2020.

The company's board of directors approved a quarterly dividend of 19 cents per share payable on April 13, 2022, to JWN shareholders of record at the close of business on March 28, 2022. A $0.76 per share annual dividend yields 2.9% at a stock price of $26.60 for JWN. Nordstrom will now pay an estimated $121 million in dividends to shareholders annually.

Nordstrom, Inc. is a fashion retailer based in the U.S. and founded in 1901 as a shoe store in Seattle. Nordstrom, Inc. is focused on offering privately labeled apparel, shoes, cosmetics and accessories for women, men, young adults and children. Nordstrom brands and ecommerce websites include Nordstrom.com, TrunkClub.com, Nordstrom-branded United States stores, Canada, which includes Nordstrom.ca, Nordstrom Canadian stores and Nordstrom Rack Canadian stores and also (apart from Nordstrom.com), Nordstromrack.com, HauteLook and TrunkClub.com. Nordstrom suspended its dividend in 2020 and reinstated its dividend in 2022.