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Ohio Ag News Headlines |
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Kroger Raises Quarterly Dividend, Approves Repurchase Program
Ohio Ag Connection - 06/28/2016
The Kroger Co. announced that its Board of Directors raised the quarterly dividend by 14 percent, to 12 cents per share, to be paid on September 1, 2016, to shareholders of record on the close of business on August 15, 2016.
Kroger also announced a new, $500 million share repurchase program, replacing the prior authorization, which has been exhausted.
"We remain committed to delivering value to shareholders. Kroger has delivered double-digit compound growth in its dividend since we reinstated it in 2006," said Rodney McMullen, Kroger's chairman and CEO. "Our strong cash flow has enabled us to return
to shareholders more than $2.7 billion in dividends since 2006."
The company continues to expect an increasing dividend over time.
"Kroger has also returned $12.9 billion to shareholders through share repurchases since January 2000 -- effectively buying back half the company's shares over the last sixteen years," said Mr. McMullen.
Every day, the Kroger Family of Companies makes a difference in the lives of eight and a half million customers and 431,000 associates who shop or serve in 2,778 retail food stores under a variety of local banner names in 35 states.
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