Ingles Markets Declares Cash Dividend for Shareholders - Full Details Here
Ingles Markets, a leading grocery chain in the Southeastern United States, has announced a cash dividend for its shareholders. The dividend amounts to $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock, translating to an annual rate of $0.66 for Class A and $0.60 for Class B shares. Shareholders of record as of October 10, 2024, will receive the dividend on October 17, 2024.
Ingles Markets operates 198 supermarkets and is involved in real estate through neighborhood shopping centers. The company also owns a fluid dairy facility serving its stores and other customers.
The dividend declaration is in line with Ingles Markets' commitment to shareholder value. With a dividend yield of 0.89% and 38 consecutive years of dividend payments, the company is a reliable income-generating stock for long-term investors. The company's low P/E ratio and revenue valuation multiple suggest it may be undervalued.
For a deeper analysis, InvestingPro offers 7 additional tips on Ingles Markets' financial health and market position. This information is crucial for investors considering the company's recent dividend announcement and its strong presence in the southeastern retail market.
In conclusion, Ingles Markets' dividend declaration showcases its dedication to rewarding shareholders. With a history of consistent dividend payments and strong financials, the company presents an attractive opportunity for investors looking for stable returns in the grocery sector. Stay informed and consider investing in Ingles Markets for long-term financial growth.