Richmond, Va - Richfood Holdings, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.05 per share payable on or about September 30, 1998, to shareholders of record on September 15, 1998. The $0.05 per share cash dividend for the first quarter of fiscal 1999 represents a 25% increase over the $0.04 per share quarterly cash dividend rate in effect during fiscal 1998.
John E. Stokely, Chairman, President and Chief Executive Officer, said, “The Board's decision to increase the dividend by 25% per share reflects Richfood's excellent operating results in fiscal 1998, as well as its confidence in the Company's strategic direction.”
Richfood Holdings, Inc., headquartered in Richmond, Virginia, is the largest wholesale food distributor in the Mid-Atlantic operating region. The Company provides a full range of grocery, dairy, frozen food, produce, meat and non-food items to chain and independent retailers throughout the region. Richfood also operates three retail grocery store chains: 45 Farm Fresh grocery stores located primarily in Virginia's Hampton Roads market; 38 Shoppers Food Warehouse supermarkets in the Washington, D.C. area; and 17 Metro retail grocery stores in the Baltimore metropolitan area.
Meat Industry Insights News Service
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Phone: 631-757-4010
Fax: 631-757-4060
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