CINCINNATI, Sept. 19, 2019 /PRNewswire/ -- The Kroger
Co.'s (NYSE: KR) Board of Directors today declared a quarterly
dividend of 16¢ per share to be paid on December 1, 2019, to shareholders of record as of
the close of business on November 15,
"The Restock Kroger framework is designed to reposition
our company for the future while delivering for shareholders
today," said Rodney McMullen,
Kroger's chairman and CEO. "Kroger's board is confident in our
strategy to create shareholder value and the momentum we are
building to deliver on our long-term vision to serve America
through food inspiration and uplift."
In June, Kroger's Board raised the quarterly dividend from 56¢
to 64¢ per year. The company's quarterly dividend has grown at a
double-digit compound annual growth rate since it was reinstated in
2006. The company continues to expect, subject to board approval,
an increasing dividend over time.
Kroger's financial strategy is to use its free cash flow to
drive growth while also maintaining its current investment grade
debt rating and returning capital to shareholders. The company
actively balances the use of its free cash flow to achieve
This press release contains forward-looking statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995, about the future performance of the company. These statements
are based on management's assumptions and beliefs in light of the
information currently available to it. Such statements are
indicated by the words "confident," "deliver," "expect,"
"continues," "strategy," and "goals." Our ability to continue
to fund dividends and increase our dividend over time will be
affected by our ability to generate free cash flow at the levels
anticipated and our ability to generate expected operating results.
These forward-looking statements are subject to uncertainties and
other factors that could cause actual results to differ materially.
We assume no obligation to update the information contained herein.
Please refer to Kroger's reports and filings with the Securities
and Exchange Commission for a further discussion of these risks and
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose:
to Feed the Human SpiritTM. We are nearly
half a million associates who serve over nine million customers
daily through a seamless digital shopping experience and 2,769
retail food stores under a variety of banner names, serving America
through food inspiration and uplift, and creating
#ZeroHungerZeroWaste communities by 2025. To learn more about us,
visit our newsroom and investor relations site.
View original content to download
SOURCE The Kroger Co.