SpartanNash Company (the "Company") (Nasdaq: SPTN) today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share. This represents an increase of approximately 11% from $0.135 per common share paid previously. The dividend will be paid on March 31, 2016 to shareholders of record as of March 21, 2016. As of February 26, 2016, there were 37,285,140 common shares outstanding.
SpartanNash (SPTN) is a Fortune 400 company and the largest grocery distributor serving U.S. military commissaries in the United States, in terms of revenue. The Company's core businesses include distributing grocery products to military commissaries and exchanges and independent and corporate-owned retail stores located in 47 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain and Egypt. SpartanNash currently operates 163 supermarkets, primarily under the banners of Family Fare Supermarkets, Family Fresh Markets, D&W Fresh Markets, and Sun Mart.
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Although SpartanNash expects to continue to pay a quarterly cash dividend, adoption of a dividend policy does not commit the Board of Directors to declare future dividends. Each future dividend will be considered and declared by the Board of Directors at its discretion. The ability of the Board of Directors to continue to declare dividends will depend on a number of factors, including SpartanNash's future financial condition and profitability and compliance with the terms of its credit facilities.
Executive Vice President & COO
Vice President Corporate Affairs and Communications
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