Kroger pauses share repurchase program

Kroger expects to continue to generate strong free cash flow and remains committed to investing in the business to drive long-term sustainable net earnings growth, as well as maintaining its current investment grade debt rating. The Company expects to continue to pay its quarterly dividend and expects this to increase over time, subject to board approval. Kroger has paused its share repurchase program to prioritize de-leveraging following the proposed merger with Albertsons. Kroger’s net total debt to adjusted EBITDA ratio is 1.57, compared to 1.63 a year ago. The company’s net total debt to adjusted EBITDA ratio target range is 2.30 to 2.50.