Village Super Market, Inc. Declares Quarterly Dividend and Authorizes an Increase in the Share Repurchase Program
September 16 2019 - 11:51AM
The Board of Directors of Village Super Market, Inc. (NSD-VLGEA)
declared quarterly cash dividends of $0.25 per Class A common share
and $0.1625 per Class B common share. The dividends will be payable
on October 24, 2019 to shareholders of record at the close of
business on October 3, 2019.
The Company also announced that its Board of
Directors has authorized an incremental $5.0 million share
repurchase program, supplementing the current authorization, which
had approximately $0.7 million remaining as of September 13,
2019.
The actual number and timing of share
repurchases, if any, will be subject to market conditions and
applicable Securities and Exchange
Commission rules. Repurchases may be made from
time-to-time through a variety of methods, including open market
purchases and other negotiated transactions, including through
plans designed to comply with Rule 10b5-1 under the Securities
Exchange Act of 1934. It is contemplated that funding for the
program would be from operating cash flow as well as various
financing alternatives.
Village Super Market operates a chain of 30
supermarkets under the ShopRite name in New Jersey, Maryland, New
York City and eastern Pennsylvania.
Contact:
John Van Orden, CFO (973) 467-2200
John.VanOrden@wakefern.com
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