Albertsons Companies Issues Statement Regarding the Delay of the Washington State Court’s Hearing on its Special Dividend Payment
Albertsons Companies (NYSE: ACI) (“Albertsons Cos.” or “the Company”) today announced that the Washington State Court has postponed the date of the hearing regarding the temporary restraining order (“TRO”) granted to the State of Washington. The TRO restrains the Company from paying the previously announced $6.85 per share Special Dividend (the “Special Dividend”) to stockholders of record as of the close of business on October 24, 2022
BOISE, Idaho--(BUSINESS WIRE)--Nov 10, 2022--
Albertsons Companies (NYSE: ACI) (“Albertsons Cos.” or “the Company”) today announced that the Washington State Court has postponed the date of the hearing regarding the temporary restraining order (“TRO”) granted to the State of Washington. The TRO restrains the Company from paying the previously announced $6.85 per share Special Dividend (the “Special Dividend”) to stockholders of record as of the close of business on October 24, 2022.
The hearing is scheduled to take place Wednesday, Nov. 16 and Thursday, Nov. 17, and the TRO remains in effect.
Albertsons Cos. continues to believe that the claim brought by the State of Washington is meritless and provides no legal basis for canceling or postponing a dividend that has been duly and unanimously approved by Albertsons Cos.’ fully informed Board of Directors.
