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SOURCE The Kroger Co.
CINCINNATI, March 14, 2013 /PRNewswire/ -- The Kroger Co.'s (NYSE: KR) Board of Directors today declared a quarterly dividend of 15¢ per share to be paid on June 1, 2013, to shareholders of record as of the close of business on May 15, 2013.
In 2012, the company's board of directors raised the quarterly dividend by approximately 30 percent, to 15¢ per share. Since reinstating dividends in 2006, Kroger has increased the dividend each year and expects to continue to do so.
Kroger, one of the world's largest retailers, employs 343,000 associates who serve customers in 2,424 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 786 convenience stores, 328 fine jewelry stores, 1,169 supermarket fuel centers and 37 food processing plants in the U.S. Recognized by Forbes as the most generous company in America, Kroger supports hunger relief, breast cancer awareness, the military and their families, and more than 30,000 schools and grassroots organizations. Kroger contributes food and funds equal to 160 million meals a year through more than 80 Feeding America food bank partners. A leader in supplier diversity, Kroger is a proud member of the Billion Dollar Roundtable and the U.S. Hispanic Chamber's Million Dollar Club.
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 words or phrases such as "continue" and "expects." Our ability to continue to 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. Our ability to generate expected operating results may be affected by labor disputes; industry consolidation; pricing and promotional activities of existing and new competitors; unexpected changes in product costs; the state of the economy and consumer response to the economy; the success of our Customer 1st Strategy; the success of our future growth plans; goodwill impairments; changes in government-funded benefit programs; volatility in our fuel margins; our ability to generate sales at desirable margins; adverse weather conditions; rising commodity costs; the extent of geopolitical unrest, and other factors beyond our control. This forward-looking statement is 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.