GRAND RAPIDS, Mich.--(BUSINESS WIRE)--SpartanNash Company (the “Company”) (Nasdaq: SPTN) today announced that its Board of Directors approved a 10% increase to its quarterly cash dividend from $0.15 per common share to $0.165 per common share. The dividend will be paid on March 31, 2017 to shareholders of record as of March 20, 2017. As of March 1, 2017 there were 37,519,304 common shares outstanding.
SpartanNash (Nasdaq: SPTN) is a Fortune 400 company whose core businesses include distributing grocery products to independent grocery retailers, national accounts, its corporate owned retail stores, and U.S. military commissaries. SpartanNash serves customer locations in 47 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain and Egypt. SpartanNash currently operates 155 supermarkets, primarily under the banners of Family Fare Supermarkets, VG's Food and Pharmacy, D&W Fresh Market, Sun Mart, and Family Fresh Market. Through its MDV military division, SpartanNash is the leading distributor of grocery products to military commissaries in the United States.
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.