insane dividends

[wzebra33]

Limited Brands, the owner of lingerie chain Victoria's Secret and other retailers, says its third-quarter net income rose and the company is raising its full-year earnings forecast.

The specialty retailer said Wednesday that its net income was $61.3 million, or 18 cents per share, for the period that ended Oct. 30. That compares with $14.9 million, or 5 cents per share, a year earlier.

Revenue rose 11 percent to $1.98 billion.

Analysts surveyed by Thomson Reuters, who typically exclude one-time items, on average expected earnings of 17 cents per share on revenue of $1.95 billion.

Limited Brands also raised its full-year earnings forecast to a range of $1.82 to $1.97 per share, from $1.68 to $1.83. And it declared a $3 dividend and announced a $200 million stock buyback plan.