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Dillard's execs get $1.8 million bonuses.

Executives at Dillard's Inc. took no raises in 2004, but all five of the company's top executives received bonuses, according to the company's proxy statement filed with the Securities & Exchange Commission.

CEO William Dillard II and President Alex Dillard each received a $1.8 million bonus, after receiving no bonuses in 2004. Both executives received the same salaries in 2004 as they did in 2003: William at $710,000 and Alex at $620,000.

William and Alex are brothers, sons of the department store chain's late founder, William Dillard Sr. Two other Dillard siblings, Drue Corbusier and Mike Dillard, are also executives.

William Dillard II, 60, also received $115,108 in other compensation in 2004, which includes benefits. Alex Dillard received $99,233 in other compensation.

Other executives and their compensation:

* Mike Dillard, 53, executive vice president, received a salary of $540,000, unchanged since at least 2001, and a bonus of $854,000. In 2002, he received a bonus of $645,000. He received $85,324 in other compensation.

* Drue Corbusier, 58, executive vice president, received a salary of $500,000, unchanged since at least 2001, and a bonus of $854,000. In 2002, Corbusier received a bonus of $645,000. Corbusier received $55,158 in other compensation.

* James I. Freeman, 55, senior vice president and chief financial officer, received a salary of $500,000, unchanged since at least 2001, and a bonus of $732,000. Freeman received a bonus of $555,000 in 2002. Freeman received $51,858 in other compensation.

Elsewhere in the proxy, Dillard's executives unanimously urged shareholders to vote for three proposals at its next annual meeting, scheduled for 9:30 a.m. May 21 in Little Rock.

Dillard's is urging approval of a stock bonus plan, a stock purchase plan and a nonemployee director restricted stock plan.

Meanwhile, executives are urging against a proposal by three investors groups concerning "global human rights standards." Dillard's said it has already addressed concerns raised in the proposal, including child labor, freedom of employment and discrimination.
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Title Annotation:RETAIL
Author:Turner, Lance
Publication:Arkansas Business
Geographic Code:1USA
Date:May 2, 2005
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