Kroger Board of Directors Declares Quarterly Dividend
CINCINNATI, Jan. 19, 2018 /PRNewswire/ — The Kroger Co.’s (NYSE: KR) Board of Directors today declared a quarterly dividend of 12.5¢ per share to be paid on March 1, 2018 to shareholders of record as of the close of business on February 15, 2018.
Kroger’s quarterly dividend has grown at a compound annual growth rate of 13.0% since reinstating the dividend in 2006. The company continues to expect, subject to board approval, an increasing dividend over time. Kroger remains committed to balancing its use of cash flow over the near term to achieve the leverage ratios appropriate to maintain its current investment-grade rating level.
At The Kroger Co., we are dedicated to our purpose: to Feed the Human Spirit™. We are 453,000 associates who serve nearly nine million customers every day in 2,793 retail food stores under a variety of local banner names in 35 states and the District of Columbia. Our Family of Companies operates an expanding ClickList offering – a personalized order online service – in addition to 2,258 pharmacies, 783 convenience stores, 307 fine jewelry stores, 222 retail health clinics, 1,472 supermarket fuel centers and 38 food production plants in the United States. Our Company has been recognized as one of America’s most generous companies for our support of more than 100 Feeding America food bank partners, breast cancer research and awareness, the military and their families, and more than 145,000 community organizations including schools. As a leader in supplier diversity, we are a proud member of the Billion Dollar Roundtable.
This press release contains a forward-looking statement, as that term is defined in the Private Securities Litigation Reform Act of 1995, about the future performance of the company. This statement is based on management’s assumptions and beliefs in light of the information currently available to it. Such statement is indicated by the word “expect.” Our ability to continue to increase our dividend over time, will be affected by our inability to generate free cash flow at the levels anticipated and our failure to generate expected operating results. This forward-looking statement is subject to uncertainties and other factors that could cause actual results to differ materially. We assume no obligation to update the information contained herein. Please refer to Kroger’s reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties.
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SOURCE The Kroger Co.