Albertsons has announced the termination of its merger agreement with Kroger due to injunctions issued by federal courts in Oregon and Washington. Albertsons CEO, Vivek Sankaran, expressed disappointment over the court's decision to block the proposed merger.
In response to these developments, Albertsons' board plans to increase the quarterly cash dividend from $0.12 to $0.15 per share. Additionally, they have approved a stock repurchase program worth up to $2 billion.
