SALISBURY, NC – The Board of Directors of Food Lion, Inc. has declared as of
July 2, 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 August 3, 1998 to shareholders of record as of July 20, 1998.
The dividend comes following the Company’s announcement of second quarter earnings, which increased by 26 percent over the same period last year, on second quarter sales of $2.4 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 1,175 stores in 11 states.
Contact: Chris Ahearn (704) 633-8250, Ext. 2892