Staples Dividend Payment Up 9%

The Staples Inc. board of directors has declared a $0.09 per share quarterly cash dividend, a 9 percent increase over the previous quarter.

The dividend will be paid April 15 to investors holding shares of Staples common stock as of March 26.

Last week, the office supplies retailer said fourth quarter sales increased by 4 percent to $6.4 billion as profit fell by 18 percent to $234 million.

For all of 2009, sales increased by 5 percent compared to 2008 to $24.3 billion while profits declined by 8 percent to $739 million.