November 26, 2012

Dillard's, Inc. Declares Two Cash Dividends

Board Declares Special, One-Time Cash Dividend of $5.00 per Share

Little Rock, Arkansas, November 26, 2012 - Dillard's, Inc. (DDS-NYSE) (the "Company") announced today that the Board of Directors declared a regular, quarterly cash dividend of $0.05 per share as well as a special, one-time cash dividend of $5.00 per share. Both dividends are payable on the Class A and Class B Common Stock of the Company on December 21, 2012 to shareholders of record as of December 7, 2012. Chief Executive Officer, William Dillard, II, stated, "This special, one-time dividend of $5.00 per share reflects our strong financial position and underscores our confidence in Dillard's. We are pleased to return value to our shareholders in this manner."

Julie J. Bull
Director of Investor Relations
(501) 376-5965

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