Safeway (SWY) said on Friday its board approved a quarterly cash dividend of $0.175 per share.
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The dividend will be payable on April 11 to stockholder of record by the end of business on March 25.
Meanwhile, the food and drug retailer also announced the retirement of its Retail Operations Executive Vice President Bruce Everette, who started his 44-year career at Safeway as a clerk in Virginia. Kelly Griffith, the company’s current President of Merchandising, will be his replacement.
“Over the years Kelly has assumed increasing responsibility at both Division and Corporate levels,” Safeway President Robert Edwards said in a statement. “He is a well-rounded executive with a deep background in marketing and retail, and he is ready to lead our Retail Operations to further success.”
Shares of Safeway were down eight cents at $24.30 in early morning trading. As of Thursday’s close, the stock was up 34.7% so far this year.