SALISBURY, NC – The Board of Directors of Food Lion, Inc. has declared as of April 13, 1998, a quarterly cash dividend of $0.0375 per share on the outstanding Class A common shares and $0.0370 per share on the outstanding Class B common shares of the Corporation. The dividend will be payable on May 11, 1998 to shareholders of record as of April 27, 1998.
The dividend comes following the Company’s announcement of first quarter earnings, which increased more than 20 percent over the same period last year, on first quarter sales of $2.3 billion.
With 1997 sales of $10.2 billion, Food Lion is one of the nation’s largest supermarket chains, serving more than 10 million weekly customers at more than 1,100 stores in 11 states.
Contact: Chris Ahearn (704) 633-8250, Ext. 2892