Family Dollar Stores deleted from Dividend Aristocrats Index

Discount retailer Family Dollar Stores will be deleted from the Dividend Aristocrats Index after a takeover bid by Dollar Tree was approved on Thursday January 22nd.

Family Dollar Stores had raised its dividend for 38 consecutive years. This year Family Dollar raised it's dividend for the last time with 19,2%.

In 2014 a takeover battle started between competitors Dollar Tree and Dollar General. Dollar Tree first made a $8,5 billion bid, followed by higher bids from Dollar General. 

Family Dollar Stores (NYSE: FDO) rejected the higher bids by Dollar General (DG) and finally accepted a $8,7 billion bid by Dollar Tree (DLTR) this Thursday.

Standard & Poor's now has deleted Family Dollar from its Dividend Aristocrats Index, that consisted out of 54 companies that have raised their dividend for at least 25 consecutive years.

S&P didn't announce a replacement for Family Dollar Stores, leaving the index with currently 53 stocks.

The deletion of Family Dollar Stores will be effective after the close of business on January 30, 2015.

Source: S&P Dow Jones Indices