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Tags: Kroger | share | buyback | grocery | store

Kroger Increases Dividend, OKs $1 Billion Share Buyback

Friday, 16 September 2011 11:37 AM EDT

Grocery store operator The Kroger Co. has raised its quarterly dividend by almost 10 percent and said it approved a $1 billion share repurchase program.

The new quarterly dividend of 11.5 cents per share is payable Dec. 1 to shareholders of record on Nov. 15.

Kroger said it expects to buy back the shares over the next 12 months; the program replaces an existing buyback that had about $213 million remaining.

David B. Dillon, Kroger's chairman and CEO, noted that the company has returned more than $4.6 billion to shareholders through dividends and share repurchases since 2006.

Kroger, based in Cincinnati, operates stores in 31 states under names including Kroger, City Market, Dillons, Food 4 Less, Ralphs and Smith's. Its shares were rose 51 cents, or 2.3 percent, to close at $22.61.

So far this year, there have been 248 dividend increases or introductions by companies in the S&P 500, according to Standard & Poor's. That compared with 256 for all of last year.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


InvestingAnalysis
Grocery store operator The Kroger Co. has raised its quarterly dividend by almost 10 percent and said it approved a $1 billion share repurchase program. The new quarterly dividend of 11.5 cents per share is payable Dec. 1 to shareholders of record on Nov. 15. Kroger said...
Kroger,share,buyback,grocery,store,
164
2011-37-16
Friday, 16 September 2011 11:37 AM
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