Also Declares Cash Dividend of $0.20 per Share

Dillard's, Inc. (NYSE:DDS) (the "Company" or "Dillard's") announced that the Board of Directors declared a special dividend of $15.00 per share on the Class A and Class B Common Stock of the Company. The dividend follows the Company's recent record financial performance.

In a joint statement, Dillard's Chief Executive Officer, William Dillard, II and President Alex Dillard noted, "We are extremely happy with the Board's decision to grant this dividend, which is a special thanks to our shareholders - including our own associates and their families who own approximately 70% of our outstanding shares. They stuck with us through unprecedented times and have been instrumental in achieving our remarkable success this year. We are extremely proud of the exceptional work they continue to do and what we have accomplished together. It would not have been possible without the tremendous support of our dedicated team. Thank you."

The special dividend of $15.00 per share is payable December 15, 2021 to shareholders of record as of November 29, 2021.

Additionally, the Company announced that the Board of Directors declared a cash dividend of $0.20 per share on the Class A and Class B Common Stock of the Company. The dividend is payable January 31, 2022 to shareholders of record as of December 31, 2021.

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Dillard's, Inc. Announces Special Dividend of $15.00 Per Share