Books-A-Million chain book store recorded higher 4Q profit and announced a dividend

Books-A-Million 4Q profit up, will pay dividend

BIRMINGHAM, Ala. — Chain book store Books-A-Million Inc. reported Thursday that its profit edged up slightly in the fourth quarter despite a drop in sales.

The company said it earned $11.9 million, or 76 cents per share, for the quarter that ended Jan. 30. That’s up from $11.2 million, or 71 cents per share a year earlier. Its sales fell 4.6 percent to $157.2 million from $164.7 million.

CEO Clyde B. Anderson said in a statement that the company was pleased with the results and remains focused on fiscal discipline.

For the full year, Books-A-Million’s profit grew to $13.8 million, or 88 cents per share, from $10.6 million, or 68 cents per share, in the prior year. For the year, its sales fell 1.3 percent to $508.7 million for the year.

The company also announced Thursday that it will buy back up to $5 million worth of its common stock during the next year. The repurchase program replaces another of the same size that began last year and was to expire on April 30, in which the company bought back $1.7 million of its common stock under.

The company currently has 15.6 million shares of common stock outstanding.

Books-A-Million also said its board approved a quarterly cash dividend of 15 cents per share to be paid on April 8 to shareholders on record as of March 25.

Shares of Books-A-Million, which is based in Birmingham, Ala., and operates 200 stores across the South and Midwest, rose 6 cents to close at $7.27 Thursday and rose 3 cents in after-hours trading.