A combination lock includes a lock body, a shackle axially moveable between a retracted position and an extended position, a locking mechanism, and a dial secured to the front side of the lock body. The locking mechanism is movable from a locked condition to an unlocked condition to permit movement of the shackle from the retracted position to the extended position. The dial includes an outer ring portion surrounding a stationary lock body face and rotatable with respect to the face, and a locking mechanism engaging portion disposed between the lock body face and the rear side of the lock body, wherein successive rotation of the dial to a series of one or more predetermined rotational positions causes the locking mechanism to move from the locked condition to the unlocked condition.