Albertsons dividend remains on hold as Washington state sets February court date
Albertsons (NYSE:ACI) The $4 billion special dividend payment remains on hold as the Washington State Supreme Court has set a February date for a dividend appeal hearing related to the supermarket chain’s plan to sell to Kroger (NYSE:KR). Albertsons rose 1.2%.
The Washington State Supreme Court has set a February 9 for an expedited hearing on the state attorney general’s appeal against the ruling allowing the dividend to continue, according to a statement. statement from Albertsons.
The temporary injunction against dividends will remain in effect until further orders are issued by the Washington Supreme Court. The Albertsons filed a request to further speed up the en banc review process by the Washington Supreme Court.
Earlier this month A Washington State Judge refuse a preliminary order that prevented the Albertsons from paying $4 billion, although the dividend remained blocked while the case was appealed to the Washington State Supreme Court.
Another Washington State Judge grant a temporary restraining order last month blocked Albertsons payments (ACI) A special dividend of $6.85 per share that should have been paid on Nov. 7. The lawsuit in Washington accuses the two companies of violating antitrust and consumer protection laws.
A judge in Washington, DC last month also ruled that the Albertsons (ACI) may proceed to pay special dividends. US District Judge Carl Nichols denied the request conducted by attorneys general in California, Illinois and Washington, DC to temporary dividend block.
Albertsons (ACI) also said on Tuesday that the United States Circuit Court for the District of Columbia dismissed a petition filed with the Attorney Generals of California, Illinois and the District of Columbia for a pending appeal and administrative suspension order. special dividend payments.
Earlier this month Kroger (KR) received a request from the Federal Trade Commission for additional information regarding the plan $24.6 billion to buy rival supermarket chain Albertsons.