Ingles Markets, Incorporated Declares Quarterly Cash Dividend

Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock. This results in an annual dividend rate of $0.66 for Class A and $0.60 for Class B. The dividends are set to be paid on January 14, 2021, to all shareholders of record on January 7, 2021. The company operates 197 supermarkets and maintains a strong presence across six southeastern states.

Positive

• Dividend declaration of $0.165 for Class A and $0.15 for Class B stock enhances shareholder income.
• Annual dividend rates of $0.66 for Class A and $0.60 for Class B demonstrate company confidence.

Negative

• None.

Ingles Markets, Incorporated (NASDAQ: IMKTA) today announced that its Board of Directors has declared a cash dividend of $0.165 (sixteen and one-half cents) per share on all its Class A Common Stock and $0.15 (fifteen cents) per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable January 14, 2021, to all shareholders of record on January 7, 2021.

Ingles Markets, Incorporated is a leading grocer with operations in six southeastern states. Headquartered in Asheville, North Carolina, the Company operates 197 supermarkets. In conjunction with its supermarket operations, the Company operates neighborhood shopping centers, most of which contain an Ingles supermarket. The Company also owns a fluid dairy facility that supplies Ingles supermarkets and unaffiliated customers. To learn more about Ingles Markets visit ingles-markets.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201228005010/en/

FAQ

What is the dividend amount for IMKTA?

Ingles Markets has declared a dividend of $0.165 per share for Class A Common Stock and $0.15 for Class B Common Stock.

When will the dividends for IMKTA be paid?

The dividends will be paid on January 14, 2021, to shareholders of record on January 7, 2021.

What are the annual dividend rates for IMKTA?

The annual dividend rate is $0.66 per share for Class A and $0.60 per share for Class B.

Is the dividend for IMKTA sustainable?

The dividend declaration indicates the board's confidence in the company's ongoing performance, suggesting sustainability.