Boise, Idaho-based Albertsons Companies has announced that the Washington Supreme Court has denied a motion by the attorney general of Washington to hear an appeal from the trial court’s denial of its request to enjoin the company from paying its previously announced $6.85 per common share special dividend.
The special dividend was first scheduled to be paid Nov. 7. The payment will now be paid on Jan. 20.
The temporary restraining order preventing the payment of the special divided has been lifted as a result of the decision. Albertsons Cos. will begin the process of paying the dividend and amounts will be distributed as soon as practicable to stockholders of record as of the close of business on Oct. 24.
Albertsons Cos.’ proposed merger with The Kroger Co. is continuing through required regulatory review, including seeking clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The merger between the two companies was first announced on Oct. 14 by The Shelby Report.
Together, Albertsons Cos. and Kroger have more than 710,000 employees and operate a total of 4,996 stores, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers. The combination will create an ecosystem across 48 states and the District of Columbia, providing customers with shopping experiences across both stores and digital channels.
To read the full story, click here.
