Weis Markets sweetens dividend by 3.7%
Jul 9, 2003 12:00 PM, from staff and wire reportsThe board of directors of Weis Markets Inc, a Sunbury PA-based grocery chain, increased the company’s quarterly dividend by $.01 to $.28 per share—a 3.7% increase—to shareholders of record Aug 8, 2003, payable Aug 22, 2003.
At the current market price per share, the company’s current dividend yield is about 3.5%.
“We also continue to make major investments in our capital expansion program,” said Robert F Weis, company chairman. “We are currently scheduled to invest $72.4 million in our capital program, a program that we have invested more than $500 million in since 1995.”
Weis operates 159 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia, and West Virginia. In 2002, the company generated $2 billion in total sales.