Key Developments: Ingles Markets Inc (IMKTA.OQ)
28.76USD
1 Aug 2013
$0.30 (+1.05%)
$28.46
$28.76
$29.22
$28.50
14,678
16,368
$29.22
$15.33
Latest Key Developments (Source: Significant Developments)
Ingles Markets Inc Declares Quarterly Cash Dividend
Ingles Markets Inc announced that Board of Directors has declared a cash dividend of $0.165 per share on all its Class A Common Stock and $0.15 per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable July 25, 2013, to all shareholders of record on July 11, 2013. Full Article
Ingles Markets Inc Authorizes Four Million Share Repurchase Program
Ingles Markets Inc announced that Board of Directors authorized the repurchase of up to four million shares of its Class A and Class B Common Stock. Ingles Markets had approximately 13.0 million Class A shares outstanding and 11.3 million Class B shares outstanding as of June 25, 2013. The share repurchase program may be carried out through open market purchases, block trades, purchases from the Company`s investment/profit sharing plan and in negotiated private transactions. Any shares repurchased from directors or officers of the Company, or any of their respective affiliates (other than the Company`s investment/profit sharing plan) shall be approved by the Audit Committee in accordance with the Company`s Related Party Transaction policy. The timing and actual number of shares repurchased will depend on a variety of factors including the stock price, corporate and regulatory requirements and other market and economic conditions. The stock repurchase program may be suspended or discontinued at any time. The Company plans to use existing cash, cash flow from operations and other financing sources to fund the repurchase program. Full Article
Ingles Markets Inc Completes Offering of $700 Million of Senior Notes
Ingles Markets Inc announced that it has completed its previously announced $700 million offering of Senior Notes due 2023 in a transaction exempt from the registration requirements of the Securities Act of 1933. The unsecured Senior Notes bear interest at 5.75% and were issued at par. Ingles intends to use a substantial portion of the net proceeds from the offering to purchase any and all of its $575 million outstanding 8.875% Senior Notes due 2017 (the 8.875% Notes) which are tendered in the tender offer and consent solicitation. Today the company paid $470.4 million consideration for the approximately $448.3 million aggregate principal amount of the 8.875% Notes that were validly tendered and accepted on or before June 11, 2013. To the extent not tendered in the tender offer and accepted by the company on or before June 25, 2013, the remaining $126.7 million of 8.875% Notes will be redeemed on or about July 1, 2013. Ingles will use the remaining cash proceeds from the offering to repay certain other debt, fund capital expenditures and for general corporate purposes. Full Article
Ingles Markets Inc Announces Pricing of $700 Million Senior Notes
Ingles Markets Inc announced the pricing of its $700 million aggregate principal amount of its senior notes due 2023. The senior notes will bear an interest rate of 5.75% and will pay interest semiannually in arrears on June 15 and December 15 of each year, beginning December 15, 2013. The final maturity of the senior notes is June 15, 2023. The Company announced on May 29, 2013, that it was offering the senior notes with a substantial portion of the net proceeds being used to purchase any and all of its $575 million aggregate principal amount of 8.875% Senior Notes due 2017 (the 8.875% Notes) in a tender offer and consent solicitation announced at the same time. The Company intends to apply the remaining net proceeds from the offering to repay certain other debt, to fund capital expenditures and for general corporate purposes. The Company and its principal lenders have agreed in principle to modify and extend the maturity of its $175 million line of credit and its $100 million loan used to construct a new distribution center that opened last year. The line of credit will now mature in May 2018, and the distribution center loan will mature in June 2021, subject to execution of final documents. The line of credit previously matured on December 29, 2015, and the distribution center loan previously matured on January 2, 2018. Full Article
Ingles Markets Inc Announces $700 Million Notes Offering
Ingles Markets Inc announced that it intends to offer $700 million aggregate principal amount of its senior notes due 2023 in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended. Ingles intends to use a substantial portion of the net proceeds from the offering to purchase any and all of its outstanding 8 7/8% Senior Notes due 2017 (the "8 7/8% Notes") which are tendered in the tender offer and consent solicitation announced separately today. Currently, approximately $575 million aggregate principal amount of the 8 7/8% Notes are outstanding. The Company intends to apply the remaining net proceeds from the offering to repay certain other debt, to fund capital expenditures and for general corporate purposes. Full Article
Ingles Markets Inc Declares Quarterly Cash Dividend
Ingles Markets Inc announced that Board of Directors has declared a cash dividend of $0.165 per share on all Class A Common Stock and $0.15 per share on all Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable April 25, 2013, to all shareholders of record on April 11, 2013. Full Article
Ingles Markets Inc Declares Quarterly Cash Dividend
Ingles Markets Inc announced that its Board of Directors has declared a cash dividend of $0.165 (sixteen and one-half cents) per share on all its Class A Common Stock and $0.15 (fifteen cents) per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable October 25, 2012, to all shareholders of record on October 11, 2012. Full Article
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated announced that its Board of Directors has declared a cash dividend of $0.165per share on all its Class A Common Stock and $0.15 per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable July 19, 2012, to all shareholders of record on July 5, 2012. Full Article
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated announced that its Board of Directors has declared a cash dividend of $0.165 (sixteen and one-half cents) per share on all its Class A Common Stock and $0.15 (fifteen cents) per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable April 19, 2012, to all shareholders of record on April 5, 2012. Full Article
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated announced that its Board of Directors has declared a cash dividend of $0.165 per share on all its Class A Common Stock and $0.15 (fifteen cents) per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable January 19, 2012, to all shareholders of record on January 6, 2012. Full Article

Earnings vs.
Estimates