Consensus $1.30. The company states: "On October 14, 2022, in conjunction with the announcement of its entrance into a definitive merger agreement with Kroger, Albertsons also announced that it would pay a Special Dividend of approximately $6.85 per share to be payable on November 7, 2022, to shareholders of record as of the close of business on October 24, 2022. Acadia expected to recognize its pro rata share of the Special Dividend of approximately $0.11 per Acadia share in the fourth quarter of 2022. On November 3, 2022, Albertsons announced that the Attorney General of the State of Washington had been granted a temporary restraining order preventing Albertsons from paying the Special Dividend, pending a hearing originally scheduled for November 10, 2022, which was then ultimately delayed to later dates in December 2022. Throughout the process, Albertsons maintained that the lawsuit brought by the State of Washington, and the similar lawsuit brought by the Attorneys General of California, Illinois, and the District of Columbia are "meritless and provide no legal basis for canceling or postponing a dividend that has been duly and unanimously approved by Albertsons Cos.’ fully informed Board of Directors. On December 21, 2022, Albertsons announced that the State of Washington Supreme Court set a date of February 9, 2023, for the review of the TRO against the payment of Albertsons’s Special Dividend. On January 2, 2023, Albertsons further announced that their motion for an expedited review had been granted. As such, the Washington Supreme Court will review the appeal of the Attorney General of the State of Washington on January 17, 2023. The TRO will remain in effect until there is a further order issued by the Washington Supreme Court. Based on the foregoing, Acadia will not recognize its share of the Special Dividend in fiscal year 2022 and is therefore reducing its full year 2022 guidance."
Published first on TheFly
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