Kroger OKs ‘Substantial’ Dividend Hike

“This substantial dividend increase demonstrates the confidence of our board of directors that the customer 1st strategy will produce strong returns for shareholders.” — David B. Dillon, chairman and CEO, Kroger

CINCINNATI — Responding to a sluggish stock price and investors who long complained its payout was too low, Kroger Co. has approved what it called a “substantial” increase in its quarterly dividend.

The company said it would pay a dividend of 15 cents per share on Dec. 1 to shareholders of record as of the close of business on Nov. 15. That represents a 30% increase from its last quarterly dividend, o

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