Publix Super Markets Inc. recently announced that it will be issuing a quarterly dividend of 10 cents per share of common stock on August 1st. The company’s board of directors made the announcement earlier this week, stating that stockholders of record as of July 14th would be eligible for the dividend.
This marks the second quarter in a row that Publix has issued a dividend of 10 cents per share, which is a penny higher than the dividend issued on January 1st. Dividends are typically paid quarterly during the months of February, May, August, and November.
Publix’s stock price has been performing well in recent months. Starting the year at $13.19 per share, it rose to $14.55 on March 1st and further increased to $14.97 in May. While the stock is not publicly traded since Publix is privately owned, about 80% of the stock is owned by the company’s employees, with the remaining 20% owned by relatives of founder George Jenkins and board members.
In its most recent SEC filings, Publix reported sales of $54.5 billion during its 2022 fiscal year, representing a 13.6% increase over the previous year. Its retail sales in 2021 totaled $48 billion. With more than 240,000 associates, Publix is the largest employee-owned company in the United States.
The supermarket chain currently operates 1,346 stores across seven states, including Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, and Virginia. Additionally, Publix is set to open its first stores in Kentucky soon, expanding its reach into an eighth state.
It is worth noting that Publix remains committed to its employees and has gained a reputation for being a great place to work. The company offers a range of benefits and opportunities for growth, contributing to its status as one of the top employers in the retail industry.
Overall, Publix’s consistent dividend payments and strong financial performance reflect its dedication to providing value to its shareholders. As the company continues to grow and expand, its commitment to excellence remains unwavering, positioning it as a leading player in the supermarket industry.
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