PITTSBURGH (AP) — American Eagle Outfitters Inc. said Wednesday that its board declared a special cash dividend of $1.50 and a regular quarterly dividend of 11 cents.

The Pittsburgh-based teen-oriented retailer said the total cash dividend of $1.61 will be paid on Oct. 10 to shareholders of record as of Sept. 26.

American Eagle said the dividends are part of its cash strategy to invest in the company, while still returning profits to its shareholders.

The company's shares rose 64 cents, or 2.8 percent, to $23.35 in morning trading.