Kroger Boosts Quarterly Dividend by 11% to 39 Cents Per Share
KR is trading near its 52-week low of $55.595 (4.6% above the low).
Summary
Kroger's board approved an 11% increase in its quarterly dividend, raising it from 35 cents to 39 cents per share. This action signals management's confidence in the company's financial outlook and commitment to returning capital to shareholders. The dividend increase follows the company's recent Q1 earnings report and an earlier authorization of a $2 billion share buyback program. This could attract income-focused investors and provide some support for the stock, which is currently trading near its 52-week low.
At the time of this announcement, KR was trading at $58.14 on NYSE in the Trade & Services sector, with a market capitalization of approximately $36.1B. The 52-week trading range was $55.60 to $76.58. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.