SpartanNash (SPTN) will raise its quarterly dividend by 5.0 percent to 21 cents per share in 2022. This marks the 12th consecutive year of dividend increases by the grocery distributor. The annual dividend payment will jump to $30 million.

The next SPTN dividend will be paid on March 31, 2022 to shareholders of record as of the close of business on March 17, 2022. As of February 28, 2022, there were 35,921,684 common shares outstanding. A new annual rate of 84 cents per share yields 2.5% at a stock price of $33 for SPTN.

SpartanNash distributes grocery products to independent grocery retailers, national accounts, its corporate owned retail stores, and U.S. military commissaries. SpartanNash serves customer locations in The United States, Europe, Cuba, Puerto Rico, Bahrain and Egypt. SpartanNash operates supermarkets, primarily under the banners of Family Fare Supermarkets, VG's Food and Pharmacy, D&W Fresh Market, Sun Mart, and Family Fresh Market. Through its MDV military division, SpartanNash is a distributor of grocery products to military commissaries in the United States.