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GRAND RAPIDS, Mich. - SpartanNash (NASDAQ:SPTN), a food solutions company, has announced an increase in its quarterly cash dividend. The company’s Board of Directors has approved a new dividend of $0.22 per common share, which is a 1.1% rise from the previous dividend rate of $0.2175. This new dividend is slated for distribution on April 2, 2025, to shareholders who are on record by March 21, 2025. According to InvestingPro data, SpartanNash has raised its dividend for 14 consecutive years, maintaining a current yield of 4.27%.
The announcement comes as SpartanNash continues to operate its two main business segments: food wholesale and grocery retail. The company’s global supply chain caters to a variety of customers, including independent and chain grocers, as well as U.S. military commissaries and exchanges. SpartanNash also manages nearly 200 grocery stores under various banners, in addition to pharmacies and fuel centers. With a market capitalization of $672 million and a strong free cash flow yield, InvestingPro analysis indicates the company maintains a FAIR overall financial health score.
This modest dividend increase reflects the company’s commitment to providing returns to its shareholders. As of March 10, 2025, SpartanNash reported having 33,689,005 common shares outstanding.
SpartanNash’s approach to business emphasizes a "People First" culture, with a family of over 20,000 associates. The company prides itself on delivering ingredients for a better life and offers a comprehensive suite of support services for independent grocers.
The information in this article is based on a press release statement from SpartanNash.
In other recent news, SpartanNash Co reported its fourth-quarter earnings for 2024, surpassing analysts’ expectations with an earnings per share (EPS) of $0.42, compared to the projected $0.33. The company reported revenue of $2.26 billion, aligning with forecasts. Despite these positive results, the company experienced a 2% decline in full-year net sales, totaling $9.55 billion. SpartanNash achieved a record adjusted EBITDA of $258.5 million and generated $266 million in cash from operations, marking a 130% increase. The company returned $45 million to shareholders through share repurchases and dividends, demonstrating its commitment to shareholder value. Looking forward, SpartanNash projects net sales for 2025 to be between $9.8 and $10 billion, with an anticipated adjusted EPS ranging from $1.60 to $1.85. The firm also plans capital expenditures between $150 and $165 million. Strategic initiatives for growth include expanding ethnic stores and implementing cost leadership strategies.
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