CINCINNATI, Sept. 17, 2020 /PRNewswire/ -- The Kroger Co.'s
(NYSE: KR) Board of Directors today declared a quarterly dividend
of 18¢ per share to be paid on December 1,
2020, to shareholders of record as of the close of business
on November 13, 2020.
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 capital allocation strategy is to use its free cash
flow to invest in the business and drive profitable 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 these goals.
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 "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 uncertainties.
About Kroger
At The Kroger Co. (NYSE: KR), we are
Fresh for Everyone™ and dedicated to our Purpose: To Feed the
Human Spirit®. We are, across our family of companies, nearly half
a million associates who serve over 11 million customers daily
through a seamless shopping experience under a variety
of banner names. We are committed to creating
#ZeroHungerZeroWaste communities by 2025. To learn more about us,
visit our newsroom and investor relations site.
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SOURCE The Kroger Co.