Albertsons Companies Increases Quarterly Dividend by 20 Percent

Rhea-AI Summary

Albertsons Companies (NYSE: ACI) has declared a 20% increase in its quarterly dividend, raising it from $0.10 to $0.12 per share. The annualized dividend now totals $0.48 compared to $0.40 previously. This dividend will be payable on November 12, 2021 to shareholders who are on record by October 29, 2021. CEO Vivek Sankaran attributed this increase to the strong performance and free cash flow generation, highlighting the company's commitment to a balanced capital allocation strategy.

Positive

• 20% increase in quarterly dividend from $0.10 to $0.12 per share.
• Annualized dividend now totals $0.48 per share.
• Strong performance and free cash flow generation highlighted as reasons for the dividend increase.
• Continued commitment to balanced capital allocation, including investments for future growth.

Negative

• None.

BOISE, Idaho--(BUSINESS WIRE)-- Albertsons Companies, Inc. (NYSE: ACI) (the “Company”) today announced that its Board of Directors has declared a 20% increase in the quarterly dividend on its common stock, from $0.10 per share to $0.12 per share. At the new rate, the dividend on an annualized basis will be $0.48 per share compared to the previous rate of $0.40 per share.

The next quarterly dividend of $0.12 per share of common stock will be paid on November 12, 2021 to stockholders of record as of the close of business on October 29, 2021.

“The ongoing strength of our performance and free cash flow generation give us the confidence to increase our quarterly dividend, even as we ramp up investments in our business and support our digital transformation,” said Vivek Sankaran, CEO. “We remain committed to a balanced approach to capital allocation, which includes investments to drive future growth, continued deleveraging of the balance sheet, and returning cash to shareholders.”

About Albertsons Companies

Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. Albertsons Companies operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets and Balducci’s Food Lovers Market.

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. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. For a description of these factors, please review the “Risk Factors” section or other sections in the Company’s reports filed with the SEC including the most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005271/en/

Melissa Plaisance

melissa.plaisance@albertsons.com

Source: Albertsons Companies, Inc.

FAQ

What is the new dividend amount for Albertsons Companies (ACI)?

The new quarterly dividend amount for Albertsons Companies (ACI) is $0.12 per share.

When will the dividend for ACI be paid?

The dividend will be paid on November 12, 2021, to shareholders of record as of October 29, 2021.

What was the previous dividend amount for ACI before the increase?

The previous dividend amount was $0.10 per share.

What is the annualized dividend for ACI after the increase?

The annualized dividend for ACI is now $0.48 per share.

What reasons did Albertsons provide for the dividend increase?

Albertsons cited strong performance and free cash flow generation as the reasons for the dividend increase.