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Spartan Stores Declares Quarterly Dividend
Publish Date : 2/19/2008 6:12:00 AM Source : Business News Onlypunjab.com
Spartan Stores, Inc., (Nasdaq:SPTN) today announced that its Board of Directors declared a quarterly cash dividend of $0.05 per common share. The dividend is payable on March 17, 2008 to shareholders of record as of the close of business on March 3, 2008. As of February 1, 2008, there were approximately 21,905,617 common shares outstanding.
About Spartan Stores
Grand Rapids, Michigan-based Spartan Stores, Inc., (Nasdaq:SPTN) is the nation’s tenth largest grocery distributor with warehouse facilities in Grand Rapids and Plymouth, Michigan. The Company distributes more than 40,000 private-label and national brand products to nearly 400 independent grocery stores in Michigan, Indiana and Ohio. Spartan Stores also owns and operates 88 retail supermarkets and 14 deep-discount food and drug stores in Michigan and Ohio, including Family Fare Supermarkets, Glen’s Markets, D&W Fresh Markets, Felpausch Food Centers and The Pharm.
Forward-Looking Statements
This press release contains forward-looking statements. These forward-looking statements are subject to a number of factors that could cause actual results to differ materially. The Company’s adoption of a dividend policy does not commit the board of directors to declare future dividends. Each future dividend will be considered and declared by the board of directors in its discretion. The ability of the board of directors to continue to declare dividends will depend on a number of factors, including the Company’s future financial condition and profitability and compliance with the terms of its credit facilities.
Additional information about the factors that may adversely affect these forward-looking statements is contained in Spartan Stores’ reports and filings with the Securities and Exchange Commission. Other risk factors exist and new risk factors may emerge at any time. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of future results. Spartan Stores undertakes no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release. |
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