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Kroger Increases Dividend 10%

After four consecutive quarters of paying its shareholders a $0.15-a-share quarterly dividend, Kroger's (NYSE: KR  ) board of directors has authorized a 10% dividend hike, to $0.165 a share, the company announced today.

The dividend will be paid on Dec. 1 to shareholders of record on Nov. 15.

Commenting on the decision to increase the dividend, Kroger Chairman and CEO David Dillon said in a statement, "This increase reflects the Board of Directors' continued confidence that our Customer 1st strategy delivers sustainable shareholder value."

Based on Kroger's share price of $40.56 a share at the close of business Sept. 18, the new quarterly dividend has an annual yield of 1.6%. The improved quarterly dividend payout is the highest Kroger has paid its shareholders since it reinitiated its dividend payment policy in 2006.

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Tim Brugger
timbrugger

Tim has been writing professionally for several years after spending 18 years (Whew! Was it that long?)in both the retail and institutional side of the financial services industry. Tim resides in Portland, Oregon with his three children and the family dog.

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9/4/2015 4:01 PM
KR $34.07 Down -0.50 -1.45%
The Kroger Co. CAPS Rating: ****