Kroger Company (KR) announces 17% increase in quarterly dividend payment
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Category: Kroger Company (KR)
Date: 1 July 2021 Stock price of Kroger Company: $38.31 Market Capital Of Kroger Company: $28.7 billion We take a look at the press announcement from Kroger Company (KR) in which its board of directors have approved a 17% increase in their quarterly dividend payment. We also take a look at their stock price performance over the last 5 years.
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In recognition of our strong performance during the last year, we are proud to increase the quarterly dividend at a higher rate than our historical average - Rodney McMullen, Kroger's Chairman and CEO "
More About Kroger Company (KR)
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: to Feed the Human Spirit™. We are, across our family of companies nearly half a million associates who serve over nine million customers daily through a seamless digital shopping experience and 2,800 retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025
Press release announcing the increase in quarterly dividend payment
CINCINNATI, June 24, 2021 /PRNewswire/ -- The Kroger Co.'s (NYSE: KR) Board of Directors approved a dividend increase from 72 to 84 cents per year. The next quarterly dividend of 21 cents per share will be paid on September 1, 2021 to shareholders of record as of the close of business on August 13, 2021.
Kroger's quarterly dividend has grown at a double-digit compounded annual growth rate since it was reinstated in 2006. This marks the 15th consecutive year of annual dividend increases. The company continues to expect, subject to board approval, an increasing dividend over time.
"In recognition of our strong performance during the last year, we are proud to increase the quarterly dividend at a higher rate than our historical average," said Rodney McMullen, Kroger's Chairman and CEO. "This increase reflects the Board of Directors' confidence in the strength of our free cash flow and our ability to deliver consistently strong and attractive total shareholder returns."
Capital Allocation Strategy
Kroger remains committed to investing in the business to drive long-term sustainable net earnings growth, maintaining its current investment grade debt rating, and returning excess free cash flow to shareholders via share repurchase and a growing dividend over time. The company actively balances the use of its adjusted free cash flow to achieve these goals.
Kroger's quarterly dividend has grown at a double-digit compounded annual growth rate since it was reinstated in 2006. This marks the 15th consecutive year of annual dividend increases. The company continues to expect, subject to board approval, an increasing dividend over time.
"In recognition of our strong performance during the last year, we are proud to increase the quarterly dividend at a higher rate than our historical average," said Rodney McMullen, Kroger's Chairman and CEO. "This increase reflects the Board of Directors' confidence in the strength of our free cash flow and our ability to deliver consistently strong and attractive total shareholder returns."
Capital Allocation Strategy
Kroger remains committed to investing in the business to drive long-term sustainable net earnings growth, maintaining its current investment grade debt rating, and returning excess free cash flow to shareholders via share repurchase and a growing dividend over time. The company actively balances the use of its adjusted free cash flow to achieve these goals.
Kroger Company (KR) stock price chart over the last 5 years
The image below shows the stock price history of Kroger (KR) over the last 5 years. And its been a pretty average time for Kroger Company stockholders, with the stock increasing by just 5% over the last 5 years. Not exactly shooting the lights out.
The stock of Kroger Company (KR) is trading at a lot closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of Kroger (KR) stock is positive at this point in time
The stock of Kroger Company (KR) is trading at a lot closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of Kroger (KR) stock is positive at this point in time
Kroger Company (KR) stock price chart over the last 5 years
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