Kroger (KR) increased its quarterly dividend by 10.5% as the largest U.S. supermarket chain continues to outperform the industry.
On Dec. 1, Kroger will pay 10.5 cents a share to stockholders of record as of Nov. 15, the company said in a statement today. Kroger, whose previous dividend was 9.5 cents a share, has increased its dividend four times since starting the program four years ago.
The Cincinnati-based grocer earlier this week reported that second-quarter earnings increased 2.8% from a year earlier to $261.6 million after same-store sales, excluding fuel, advanced 2.7%. Competitors Supervalu (SVU) and Safeway (SWY) each reported in July that second-quarter earnings per share fell 40% on lower same-store sales.
Kroger operates almost 2,500 supermarkets under the brand names Kroger, Dillons, Food 4 Less, Fred Meyer and Ralphs.