Kroger Increases Dividend

CINCINNATI -- In a move reflecting boardroom confidence in Kroger‘s strategic plan, Kroger here last week said it would increase its quarterly dividend by a penny. The dividend of 7.5 cents per share will be paid to shareholders on June 1. The increase reflects a 15.4% increase from 6.5 cents Kroger paid a tear ago when it reintroduced a dividend for the first time in 14 years. “In keeping with the objectives outlined when the dividend policy was initiated last year, Kroger‘s board increased the dividend after considering the company‘s overall results, the needs of the business and the interest of shareholders,” said David B. Dillon, Kroger‘s chairman and chief executive officer, said in a statement.