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Ingles Markets (NASDAQ: IMKTA ) is ringing up a fresh pair of dividends. The company has declared its latest Class A and B common stock distributions. These will be $0.165 and $0.15 per share, respectively. Both will be handed out on July 25 to shareholders of record as of July 11. The two match Ingles Markets' previous distributions, which were paid in late April.
The Class A dividend annualizes to $0.66 per share. That yields 2.6% at Ingles Markets' current stock price of $25.22. The Class B shares annualize to $0.60 per share, yielding 2.4%.
The news comes less than a week after the company launched another potential share price-boosting move: a stock buyback program. It has authorized the repurchase of up to 4 million Class A and B shares.