The dividend statement comes after the company announced a disappointing first quarter performance, reducing Staples' expected per-share earnings by $0.15. The company's stock value dropped 16 percent on the day of the announcement.
Ron Sargent, the chairman and CEO for Staples Inc., recently made a statement to the press that he expected the office supply category would consolidate in the face of reduced interest and pressure from online competitors. He indicated that Staples' two retail competitors, OfficeMax and Office Depot, could seek a merger. Sargent did not indicate if he thought the same pressure would affect Staples' promotional product divisions.
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.