Kroger Announces Agreements for $5.0B Accelerated Share Repurchase Program

Pr Newswire - Dec 19th, 2024

Kroger Co. has initiated Accelerated Share Repurchase agreements with Wells Fargo and Citibank to buy back $5 billion of its common stock. This move is part of a larger $7.5 billion share repurchase plan, with funding coming from Kroger's existing cash reserves. Kroger expects to initially receive approximately 65.6 million shares, with final settlement projected by the third fiscal quarter of 2025. The company also retains $2.5 billion capacity for further repurchases under its authorization.

Kroger, a leading retail company serving over 11 million daily customers, emphasizes its commitment to feeding the human spirit. The company warns that forward-looking statements about the share repurchase program may be subject to uncertainties and risks, as noted in their filings with the SEC. Kroger maintains its dedication to creating #ZeroHungerZeroWaste communities and will update information only as legally required.

Kroger Share Repurchase

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RATING

7.6

Fair Story

Consider it well-founded

The article is a factual press release from The Kroger Co. detailing their financial actions regarding an accelerated share repurchase program. It provides specific details about the transaction and references their official filings for further information. While it is clear and precise, it mainly offers one perspective and lacks external viewpoints or independent analysis.

Accuracy

The article is accurate in its presentation of information regarding Kroger's financial actions. It provides specific figures and dates, making it factual and verifiable. However, as a press release, it should be cross-referenced with independent sources for full verification.

Balance

The article mainly presents Kroger's perspective and lacks balance as it does not include any external viewpoints or analysis. As a press release, it is expected to be biased towards the company’s interests.

Clarity

The article is clearly written, with a neutral tone and precise language. It is logically structured, making it easy to understand.

Source quality

The source is credible as it is directly from The Kroger Co., a reputable company. However, the lack of independent sources or third-party verification slightly affects the overall source quality.

Transparency

The article is transparent about its purpose as a press release and discloses forward-looking statements and associated risks. However, it could be more transparent about potential conflicts of interest.