Kroger (KR) Declares $0.12 Quarterly Dividend; Approves $500M Buyback Plan

September 15, 2016 1:33 PM EDT

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Kroger (NYSE: KR) declared a quarterly dividend of $0.12 per share, or $0.48 annualized.

The dividend will be payable on December 1, 2016, to stockholders of record on November 15, 2016, with an ex-dividend date of November 10, 2016.

The annual yield on the dividend is 1.6 percent.

Kroger today also announced an incremental $500 million share repurchase program, supplementing the current authorization, which has $392 million remaining as of September 14, 2016.

"Kroger's share repurchase authorization reflects our Board of Directors' confidence in our Customer 1st Strategy and our ability to create value for shareholders," said Rodney McMullen, Kroger's chairman and CEO. "We are committed to delivering long-term growth investors can count on."

In June, Kroger's Board raised the quarterly dividend by 14 percent. Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006. The company continues to expect an increasing dividend over time.

Over the last four quarters, the company has returned more than $1.5 billion to shareholders through share buybacks and dividends combined.

For a dividend history and other dividend-related data on Kroger (KR) click here.

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