The Kroger Co.’s Board of Directors today declared a quarterly dividend of 29 cents per share to be paid on June 1, 2024, to shareholders of record as of the close of business on May 15, 2024.
The company’s quarterly dividend has grown at a 13.7% compounded 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.
