LITTLE ROCK, Ark. (Arkansas Business) -- Stocks closed higher last week for the fourth straight week.
This comes as indexes stock reach record levels after surging this year on optimism about the economy and record corporate earnings.
The market is also being supported by ongoing stimulus from the Federal Reserve, which is keeping long-term borrowing costs at historically low levels.
Dillard's projecting possible dividend
Here's an interesting question: what do Dillard's Inc. of Little Rock and iPhone and iPad maker Apple Inc. have in common? Both are generating tons and cash, and are now having to decide what to do with it all.
Dillard's CEO William Dillard II said Saturday at the department store chain's annual meeting that it will have to decide this year what to do with the cash it's generating.
Dillard said the company is pulling in more money than it needs to use in its business, and is pondering whether to buy back more its stock, or pay an extra shareholder dividend.
For its fiscal year that ended Feb. 2, Dillard's generated a record $523 million in cash flow from operations.
Dillard's has already returned $438 million to shareholders in the form of dividends, including a special one-time cash dividend of $5 per share in December.
Meanwhile, shares of Dillard's reached an all-time high on Friday, closing at a record $92.01.
Apple CEO expected to testify today
Apple, meanwhile, is sitting on a stunning $145 billion in cash with much of it overseas.
Apple CEO Tim Cook will testify in front of a Congressional hearing Tuesdayon its cash hoard and U.S. tax policy.
Should Apple bring the cash it has generate from overseas businesses back to the U.S., it would have to pay a hefty tax.