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Kroger Increases Dividend 10%

For the first time in a year, the grocery store giant will increase its payout.

By Tim Brugger – Sep 19, 2013 at 1:08PM EST

After four consecutive quarters of paying its shareholders a $0.15-a-share quarterly dividend, Kroger's (KR 1.54%) 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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About the Author

Tim Brugger
Tim spends much of his day writing articles and content for The Fool and, not surprisingly, loves it! However, Tim still fancies himself a storyteller as well and will continue to pursue his passion for writing fiction. His first book, The Lives of Stupid People Volume 1 (The next, great American novel as you can tell from the title), was published in 2011, along with a couple award-winning short stories. Tim majored in business studies and marketing at the University of Oregon, remains an avid soccer player and crossword fanatic, and currently lives with his 3 children in Portland, OR.
timbrugger
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Stocks Mentioned

Kroger Stock Quote
Kroger
NYSE: KR
$72.30
(-1.46%)-$1.07

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