Macy's raises profit outlook; doubles dividend Jan 5 09:25 AM US/Eastern CINCINNATI (AP) - Macy's Inc. is raising its earnings outlook for the fourth quarter and full year due to a strong holiday season and says it will double its quarterly dividend to 20 cents a share. The retailer is also increasing its share repurchase program by $1 billion. The department store operator now expects quarterly earnings of $1.55 to $1.60 per share, with full-year earnings between $2.73 and $2.78 per share. Its prior forecast called for fourth-quarter earnings of $1.52 to $1.57 per share and $2.70 to $2.75 per share for fiscal 2011. Analysts expected fourth-quarter earnings of $1.62 per share and full-year earnings of $2.78 per share. Macy's, with corporate offices in New York and Cincinnati, said Thursday that revenue at stores open at least a year climbed 6.2 percent in December.