Nash Finch Boosts Quarterly Dividend
NEW YORK - Nash Finch Co. a supermarket operator and wholesale food distributor, yesterday boosted its quarterly dividend to 13.5 cents per share from nine cents, according to Reuters.
The dividend hike is the latest step in a turnaround at Nash Finch, which was nearly delisted a year ago and was the subject of a U.S. Securities and Exchange Commission investigation of accounting practices.
By Feb 27, 2003, the stock had sunk to $4.02 and the company was sorting through a debt default notice.
But beginning late last year, the company began showing signs of improvement. Its stock has steadily climbed and on Jan 21 hit a 52-week high of $29. Nasdaq shares of Nash Finch closed at $22.13 on Tuesday.
The dividend hike is the latest step in a turnaround at Nash Finch, which was nearly delisted a year ago and was the subject of a U.S. Securities and Exchange Commission investigation of accounting practices.
By Feb 27, 2003, the stock had sunk to $4.02 and the company was sorting through a debt default notice.
But beginning late last year, the company began showing signs of improvement. Its stock has steadily climbed and on Jan 21 hit a 52-week high of $29. Nasdaq shares of Nash Finch closed at $22.13 on Tuesday.