Albertsons Companies Announces First Common Stock Dividend

Rhea-AI Summary

Albertsons Companies (NYSE: ACI) declared a cash dividend of $0.10 per share for Q3 2020, aligning with its established dividend policy. The dividend is payable on November 10, 2020 to shareholders on record as of October 26, 2020. The company's capital allocation strategy utilizes strong free cash flow to support growth, bolster its balance sheet, and enhance shareholder value, including dividend payments. Albertsons operates 2,252 stores and is committed to community support, contributing $225 million in 2019 to various initiatives.

Positive

• Declared a cash dividend of $0.10 per share, reflecting consistent dividend policy.
• Strong and consistent free cash flow supports profitable growth and shareholder value creation.

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• None.

BOISE, Idaho, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Albertsons Companies, Inc. (NYSE: ACI) (the “Company”) today announced its Board of Directors has declared a cash dividend for the third quarter of 2020 of $0.10 per share of Class A common stock and Class A-1 common stock. The cash dividend is consistent with the Company’s dividend policy established in connection with its initial public offering. The cash dividend is payable on November 10, 2020 to stockholders of record as of the close of business on October 26, 2020.

The Company’s comprehensive capital allocation strategy leverages the Company’s strong and consistent levels of free cash flow to drive profitable growth, maintain a strong balance sheet and create value for shareholders, including through the payment of dividends.

About Albertsons Companies

Albertsons Companies is a leading food and drug retailer in the United States. As of June 20, 2020, the Company operated 2,252 retail food and drug stores with 1,726 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2019 alone, along with the Albertsons Companies Foundation, the Company gave $225 million in food and financial support. In 2020, the Company made a $53 million commitment to community hunger relief efforts and a $5 million commitment to organizations supporting social justice. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans’ outreach.

Important Notice Regarding Forward-Looking Statements

This press release contains certain forward-looking statements. Statements that are not historical facts, including statements regarding the Company’s expectations, perspectives and projected financial performance, are forward looking statements. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions, when related to the Company and its subsidiaries, indicate forward-looking statements. The forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties. The Company cautions that actual results could differ materially from the expectations described in the forward-looking statements. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include those related to the COVID-19 pandemic, about which there are still many unknowns, including the duration of the pandemic and the extent of its impact. The Company also cautions that undue reliance should not be placed on any of the forward-looking statements, which speak only as of the date of this release. The Company undertakes no responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes. Information about certain potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our Annual Report on Form 10-K for the fiscal year ended February 29, 2020, as amended, and our Quarterly Report on Form 10-Q for the quarterly period ended June 20, 2020, which are on file with the U.S. Securities and Exchange Commission (the “SEC”), and may be contained in reports subsequently filed with the SEC and available at the SEC’s website at www.sec.gov.

FAQ

What is the dividend amount declared by Albertsons Companies for Q3 2020?

Albertsons Companies declared a cash dividend of $0.10 per share for Q3 2020.

When will the dividend for ACI be paid?

The dividend will be paid on November 10, 2020.

What is the record date for Albertsons' Q3 dividend?

The record date for the Q3 dividend is October 26, 2020.

How does Albertsons plan to use its free cash flow?

Albertsons plans to use its free cash flow to drive profitable growth, maintain a strong balance sheet, and create value for shareholders.