PLEASANTON, Calif. — Safeway on Friday declared a regular quarterly cash dividend of $0.20 per share.
The dividend matches what Safeway had issued in the previous quarter. Shares were down 19 cents for the day, closing at $26.69.
"The grocer has been a reliable dividend payer over the years, although it's currently burdened by a high level of debt and a relatively low reserve of cash," reported The Motley Fool. "The just-declared dividend annualizes to $0.80 per share. That yields just under 3% at Safeway's most recent closing stock price."
The cash dividend will be payable Oct. 10 to stockholders of record at the close of business on Sept. 19.
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