CINCINNATI — Kroger announced that its board of directors has raised the company's quarterly dividend by about 30%, to 15 cents per share.
The dividend will be paid on Dec. 1 to shareholders of record as of the close of business on Nov. 15. Since reinstating dividends in 2006, Kroger has increased the dividend each year and expects to continue to do so.
"This substantial dividend increase demonstrates the confidence of our Board of Directors that the Customer 1st strategy will produce strong returns for shareholders," Kroger chairman and CEO David Dillon said. "The 30% increase demonstrates our ability to continue to generate strong free cash flow and operating results."