Daily Brew Jan 19, 2023
Albertsons proceeds with $4B dividend after prevailing in latest court battle
Albertsons announced it is proceeding with its $4 billion special dividend following a months-long court battle on opposite ends of the coast that extended temporary restraining orders against the payment. On Tuesday, the Washington Supreme Court declined to take up an appeal by the state’s attorney general regarding a lower court’s ruling that would allow the dividend payout, and the temporary restraining order was subsequently lifted. Albertsons has prevailed against opponents to its dividend at a time when the grocery company and Kroger are under intense scrutiny for their proposed merger plan.