Most of the sale items are listed in the catalog you get with the dividend info. However I believe in May REI also has their big Anniversary sale which frequently has more items on sale than the dividend catalog sale. You can use your dividend on that one but you can not use the 20% dividend mailed coupon since it is only good from March 23rd for maybe a couple of weeks only. But I believe that the Anniversary sale also provides members with another 20% coupon for 1 item, again with a limited number of days that it is good to use. I do not know if the Anniversary 20% coupon is good for both the REI store and also good for another 20% at the REI outlet store too. Hope all this isn't too confusing but if a person is patient they can really score some good purchases.
