Dillard's, Inc. Announces New $500 Million Share Repurchase Program and Declares $0.20 Cash Dividend

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May 20, 2023

Dillard’s, Inc. (NYSE: DDS) (the “Company” or “Dillard’s”) announced that the Board of Directors has approved a new share repurchase program authorizing the Company to repurchase up to $500 million of its Class A Common Stock. The new open-ended authorization permits the Company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934 or through privately negotiated transactions. The Company has completed the authorization remaining under its previous share repurchase program.