CINCINNATI, Ohio — The Kroger Co.'s Board of Directors on Friday declared a quarterly dividend of 26 cents per share to be paid on March 1, 2023, to shareholders of record as of the close of business on February 15, 2023.
The company's quarterly dividend has grown at a 14% 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.
Kroger is the parent company of Dillons.