BOSTON (Thomson Financial) - Safeway Inc. Wednesday said its board has
approved a 20% increase in the company's quarterly dividend to 8.28 cents from
6.9 cents per share.
The new cash dividend is payable on July 17 to stockholders of record at the
close of business on June 26.
In addition, the board has increased the level of the company's stock
repurchase program to $5 billion from $4 billion. Safeway has repurchased about
$3.55 billion of stock since the inception of the program.
Shares of the Pleasanton, Calif.-based operator of food and drug stores
closed Tuesday at $31.17.
Casey Logan
cl/tk1
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