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Ohio Ag News Headlines |
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Kroger Board of Directors Declares Quarterly Dividend
Ohio Ag Connection - 09/25/2018
The Kroger Co.'s Board of Directors declared a quarterly dividend of 14¢ per share to be paid on December 1, 2018, to shareholders of record as of the close of business on November 15, 2018.
"Restock Kroger is designed to reposition our core business by 2020 while continuing to deliver for shareholders," said Rodney McMullen, Kroger's chairman and CEO. "We are doing this from a position of strength. Kroger has a proven track record of
consistently returning capital to shareholders through an increasing dividend over time and share buyback program."
In June, Kroger's Board raised the quarterly dividend from 50¢ to 56¢ per year. The company's quarterly dividend has grown at a double-digit compound annual growth rate since it was reinstated in 2006. The company continues to expect, subject to board
approval, an increasing dividend over time.
Kroger's financial strategy is to use its free cash flow to drive growth while also maintaining its current investment grade debt rating and returning capital to shareholders. The company actively balances the use of its free cash flow to achieve these goals.
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