ASHEVILLE, N.C. - Ingles Markets, Incorporated (NASDAQ: IMKTA), an American regional supermarket chain, has announced the declaration of its latest cash dividend. Shareholders of the company’s Class A Common Stock will receive $0.165 per share, while holders of Class B Common Stock will be paid $0.15 per share. These dividends correspond to an annual rate of $0.66 and $0.60 per share, respectively. According to InvestingPro, the company has maintained dividend payments for 38 consecutive years, demonstrating a remarkable commitment to shareholder returns.
The dividends are scheduled to be paid on January 16, 2025, to shareholders who are on record as of January 9, 2025. This financial move by Ingles Markets reflects the company’s ongoing commitment to providing value to its investors.
Operating 198 supermarkets across six southeastern states, Ingles Markets is a key player in the grocery sector, generating annual revenues of $5.64 billion. The company’s business model extends beyond traditional supermarket operations to include the management of neighborhood shopping centers, many of which feature an Ingles supermarket as an anchor tenant. Additionally, Ingles Markets owns and operates a fluid dairy facility that not only serves its own supermarkets but also supplies products to external customers. InvestingPro analysis reveals the company maintains strong financial health with a current ratio of 2.89, indicating robust liquidity management. The stock currently appears undervalued based on InvestingPro’s Fair Value calculations.
The information provided in this report is based on a press release statement from Ingles Markets, Incorporated. The announcement is a matter of public record and contributes to the financial narrative of the company, which is of interest to investors and market watchers. With a market capitalization of $1.21 billion and trading at an attractive P/E ratio of 11.54, the company presents interesting metrics for value investors. It’s important to note that the declaration of dividends is a routine part of a company’s relationship with its shareholders and is subject to change based on various economic factors and the company’s performance. For comprehensive analysis and additional insights, investors can access more than 30 key financial metrics and tips through InvestingPro.
Investors in Ingles Markets will mark their calendars for the upcoming dividend payment and the record date, which are part of the company’s financial calendar. The dividend declaration is a direct communication from the company’s Board of Directors regarding the distribution of profits to shareholders.
In other recent news, Ingles Markets Incorporated has made significant strides in corporate governance and shareholder value. The company has amended its bylaws to allow for remote shareholder meetings, a move reflecting the growing trend among businesses to utilize digital platforms for governance activities. This change, detailed in a Form 8-K filed with the Securities and Exchange Commission, enables the board to conduct any shareholder meeting entirely online, potentially enhancing shareholder participation by eliminating geographical constraints.
In addition to this, Ingles Markets has announced a cash dividend for its shareholders. The Board of Directors approved a dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock, translating to an annual rate of $0.66 for Class A and $0.60 for Class B shares. These dividends are set to be paid to shareholders recorded as of a recent date.
These developments underscore Ingles Markets’ commitment to modernizing its operations and delivering value to its shareholders. As always, these recent developments are based on press releases issued by Ingles Markets and filings with the SEC.
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