Safeway (NYSE:SWY) is about to ring up another shareholder payout on the register. The company has declared a quarterly dividend of $0.20 per share, to be paid on Oct. 10 to shareholders of record as of Sept. 19. That amount matches the company's previous distribution, which was dispensed last month. Before that, Safeway was marginally less generous, handing out $0.175 per share.

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.

The just-declared dividend annualizes to $0.80 per share. That yields just under 3% at Safeway's most recent closing stock price of $26.69.

Fool contributor Eric Volkman has no position in Safeway. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.