Gap to raise dividend by 25%

Gap Inc. GPS, +2.86% announced plans to raise the 2022 annual dividend to 60 cents per share, 25% higher than the previous 48 cents per share dividend. The first quarterly dividend of 15 cents per share will be payable on or after April 27 to shareholders of record as of April 6. Gap stock has sunk 43.2% over the past year while the S&P 500 index SPX, +2.24% has gained 12% for the period.