CINCINNATI, Jan. 21, 2022 /PRNewswire/ -- The Kroger
Co.'s (NYSE: KR) Board of Directors today declared a quarterly
dividend of 21 cents per share to be
paid on March 1, 2022, to
shareholders of record as of the close of business on February 15, 2022.
The company's quarterly dividend has grown at a double-digit
compound annual growth rate since it was reinstated in 2006. The
company continues to expect, subject to board approval, an
increasing dividend over time.
Kroger's capital allocation strategy is to use its free cash
flow to invest in the business to drive long-term sustainable net
earnings growth while also maintaining its current investment grade
debt rating and returning capital to shareholders. The company
actively balances the use of its free cash flow to achieve these
goals and deliver strong and sustainable total shareholder returns
of 8% to 11%.
About Kroger
At The Kroger Co. (NYSE: KR),
we are Fresh for Everyone™ and dedicated to our Purpose: To Feed
the Human Spirit®. We are, across our family of companies, nearly
half a million associates who serve over 11 million customers daily
through a seamless shopping experience under a variety
of banner names. We are committed to creating
#ZeroHungerZeroWaste communities by 2025. To learn more about us,
visit our newsroom and investor relations site.
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 the words "expect," "continues," "strategy," "goals,"
and "deliver." Our ability to continue to fund dividends and
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 deliver
strong and sustainable shareholder returns will be affected by our
ability to achieve sales, earnings, incremental FIFO operating
profit, and adjusted free cash flow goals. These forward-looking
statements are 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.
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SOURCE The Kroger Co.