SALISBURY, NC – The Board of Directors of Food Lion, Inc. has declared as of
September 28, 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 October 27, 1998 to shareholders of record as of October 13, 1998.
The dividend comes following the Company’s announcement of third quarter earnings of $.15 per share on third quarter sales of $2.38 billion. Same store sales for the Company were up 1.8 percent for the quarter.
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 1,094 Food Lion supermarkets in 11 states and 90 Kash n’ Karry supermarkets in West Central Florida.
Contact: Chris Ahearn (704) 633-8250, Ext. 2892