Grocery chain Kroger hikes dividend 10.5 percent after strong quarter

Grocer Kroger raises dividend 10.5 pct

CINCINNATI — Kroger Co. has increased its dividend by a penny a share, or 10.5 percent, coming off strong second-quarter results for the nation’s largest traditional-format grocery.

The Cincinnati-based company said Thursday its board raised the quarterly dividend to 10.5 cents a share, to be paid Dec. 1 to shareholders of record at the Nov. 15 close.

It’s Kroger’s fourth dividend increase since 2006.

The company reported Tuesday that second-quarter net income rose 2.8 percent. Sales increased 6 percent to $18.8 billion.

Kroger shares closed up 39 cents, or 1.8 percent, at $21.88 on Thursday.