Gap is giving up some of its top profit margins to make up for the lost sales of its flagship line of high-end clothing.

The retailer, which last year reported a $1.2 billion loss for the third quarter of the year, announced Tuesday that it has agreed to pay $3.1 billion in cash, including $1 billion to pay dividends and other earnings, to the Gap family of companies.

That will give the retailer an operating profit of $1,080 million for the year.

The dividend payout was $3 billion, which is in line with its expectations.

Gap also announced a new dividend plan, with the company paying the same amount of dividends each year to the five largest shareholders, which are the Gap Inc. family, parent company American Eagle Outfitters Inc. and a private equity firm.

The company said it will issue a $20 million dividend in 2020.

The $3-billion payout was announced in an earnings conference call, but the company said that the deal includes other payments.

The $3 bill is about the size of a normal dividend payment for a company of the size Gap is.

GAP said that it expects to pay out at least $1 in dividends each quarter for the next five years.

The company is expected to make a $5.6 billion profit in 2020, the latest year for which it has released financial results.GAP said in its statement that it would also reduce its corporate tax rate to 10% from the current statutory rate of 17%.

The company will pay its U.S. tax rate of 10% to the U.N. tax authority and its Irish government.

Gaps revenue for the fiscal year ended Dec. 31, 2019 was $14.7 billion, up 13% from $13.8 billion in the same period last year.GAPS profit is down slightly from a year ago, but it still rose slightly from $3,100 per share in 2019 to $3 of a $4.10 per share profit.GAPP’s share price was up $4 from $27.65 on Monday to $27 on Tuesday.GALLERY: Gap’s comeback story

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