RTTNews | May 5, 2021 10:21AM EDT

10:20 Wednesday, May 5, 2021 (RTTNews.com) - Shares of Big 5 Sporting Goods Corporation (BGFV) are rising more than 21% Wednesday morning after reporting profit in the first quarter. The company increased its quarterly dividend and also declared special dividend of $1 per share.

Big 5 Sporting Goods reported net income $21.5 million, or $0.96 per share in the first quarter compared with net loss of $4.6 million, or $0.22 per share in the year-ago period.

During the first quarter, the company had a benefit of $0.06 per share related to the elimination of the employment agreement liability and the insurance settlement.

Net sales for quarter increased to $272.8 million from $217.7 million in the comparable quarter last year. Same store sales increased 31.8% for the first quarter.

The company's Board has increased quarterly dividend 20% to $0.18 per share.

BGFV touched a new high of $23.52.

Read the original article on RTTNews ( https://www.rttnews.com/3191982/stock-alert-big-5-sporting-goods-corp-jumps-21-on-q1-profit-increased-dividend.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved