Washington state court blocks Albertsons special dividend

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https://www.reuters.com/markets/deals/washington-state-court-blocks-albertsons-special-dividend-2022-12-16/

1 minute read December 16, 2022 11:09 PM EST Last Updated 2 days ago

Washington state court blocks Albertsons special dividend

By Mike Scarcella

Dec 16 (Reuters) - Washington's state supreme court on Friday blocked Albertsons Companies Inc (ACI.N) from paying a special dividend ahead of its acquisition by Kroger Co (K.N), a court order showed.

The court extended a block put in place by a lower court, and said the block would remain in place until a further order of the court.

"The State of Washington Supreme Court has continued the temporary restraining order against the company’s previously announced special dividend while the Washington Supreme Court considers if it will hear the state’s appeal," Albertsons said in a statement.

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Earlier in December, Albertsons said Washington State Court had denied a request of preliminary injunction by the state's Attorney General to prevent the company from paying $4 billion to shareholders in a special dividend.

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[jimfields33]

1. Oh how nice. The workers screwed again.

That would have looked good on the workers financial statements. I know grocery stores here in Florida give stock shares to employees in every paycheck. I’m sure the Albertsons workers would have liked a nice dividend. Sad.

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2. Are most Albertson workers shareholders? That's who would get the $4 billion. nt