Albertsons Companies starts with 10 cent quarterly dividend
Albertsons Companies, Inc. (ACI) will start paying a quarterly dividend of $0.10 per share in 2020. This is the first dividend announced by the company following its IPO on June 26, 2020.
The next cash dividend is payable on November 10, 2020 to stockholders of record as of the close of business on October 26, 2020. The estimated dividend yield is 2.8% based on the annual dividend rate of 40 cents per share to be paid by the company.
Albertsons states that the cash dividend is consistent with the Company’s dividend policy established in connection with its initial public offering. This quarterly dividend payment of $0.10 per share will result in a $192 million in dividends paid to shareholders annually.
Since the company's IPO on June 26, 2020 the stock price has dropped to a low of $12.91 on September 18. The 52 week high stock price was $16.50 on June 26, the day the stock became publicly traded.
Albertsons Companies is a food and drug retailer in the United States. As of June 20, 2020, the Company operated 2,252 retail food and drug stores with 1,726 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons Companies became a public company on June 26, 2020.