Organic supermarket chain, Whole Foods Market, Inc.(WFM) reported on Friday that they will pay a special dividend next month of $2.
The company reported that it will be paying a special dividend of $2 per share on December 21 to shareholders of record on December 10. The estimated cost of this dividend to the company will be $370 million.
WFM will also pay their regular dividend of 20 cents per share on January 29 to shareholders of record on January 10.
Co-founder and co-chief executive officer John Mackey commented, “today’s announcement of a $2.00 special dividend, payable prior to the end of the calendar year, provides us with another opportunity to return capital to our shareholders.”
Mackey also noted, “we believe we will continue to generate strong cash flows and are confident in our ability to maintain a healthy cash reserve, internally fund our accelerated growth plans, and continue our quarterly dividend and stock repurchase programs.”
Whole Foods Market shares were up $1.12, or 1.20% during premarket trading Friday. The stock is up 33.77% YTD.
The Bottom Line
Shares of Whole Foods Market (WFM) have a .86% dividend yield, based on last night’s closing stock price of $93.08. The stock has technical support in the $88-$90 price area. The stock is trading near the all-time high range of $100-$101 a share.
Whole Foods Market, Inc.(WFM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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