SPRINGFIELD, N.J. --
The board of directors of Village Super Market here on Wednesday declared a 2-for-1 stock split and a 12.5% increase in its quarterly dividend. The stock split will be payable April 26; dividends have been increased to 18 cents per Class A share and to 11.7 cents on Class B shares, the retailer said. Also, this week Village reported that net income increased by 14% to $5.1 million on sales of $270.4 million during the fiscal second quarter that ended Jan. 27. Same-store sales improved by 1.6%, Village said, with newly remodeled locations in Springfield and Bernardsville, N.J., contributing to the sales increase. Village operates 23 stores under the ShopRite banner in New Jersey and Pennsylvania.