Kroger Board of Directors Approves $1 Billion Share Buyback
CINCINNATI, June 14, 2012 /PRNewswire/ -- The Kroger Co.'s (NYSE: KR) Board of Directors today approved a $1 billion share repurchase program that replaces the prior authorization, which was exhausted on June 12, 2012.
Over the last four quarters, Kroger has used its strong free cash flow to return more than $1.6 billion to shareholders through share buybacks and dividends.
Since January 2000, Kroger has returned $8.5 billion in total share repurchases to shareholders.
Kroger, one of the world's largest retailers, employs more than 339,000 associates who serve customers in 2,425 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 789 convenience stores, 337 fine jewelry stores, 1,109 supermarket fuel centers and 38 food processing plants in the U.S. Recognized by Forbes as the most generous company in America, Kroger supports hunger relief, breast cancer awareness, the military and their families, and more than 30,000 schools and grassroots organizations in the communities it serves. Kroger contributes food and funds equal to 160 million meals a year through more than 80 Feeding America food bank partners. For more information please visit Kroger.com.
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