RICHFOOD HOLDINGS DECLARES THIRD QUARTER DIVIDEND; APPROVES PARTICIPATION IN NICK'S MARKETS SALE
RICHFOOD HOLDINGS DECLARES THIRD QUARTER DIVIDEND;
APPROVES PARTICIPATION IN NICK'S MARKETS SALE
RICHMOND, Va., Jan. 23 /PRNewswire/ -- The board of directors of Richfood Holdings, Inc. (NASDAQ: RCHF) today declared a quarterly cash dividend on its outstanding common stock for the third quarter of fiscal 1992. A cash dividend of $0.025 will be payable on or about March 31, 1992, to shareholders of record on March 16, 1992.
The company also announced the formal approval by its board of directors of Richfood's ongoing participation in Farm Fresh's sale of its "Nick's Markets" stores. Richfood and Farm Fresh had previously agreed that Richfood will assist Farm Fresh in the transaction by, among other things, providing financing to prospective purchasers. To facilitate the transaction, Richfood expects to purchase certain Nick's stores for ultimate resale to retail operators.
Richfood Holdings, Inc. is the largest wholesale food distributor in its Mid-Atlantic operating region and the 12th largest in the United States. The company sells a complete selection of national brand and private label groceries, frozen foods, meat, produce, dairy and delicatessen products to approximately 400 customers that operate approximately 650 retail supermarkets in Virginia, Maryland, North Carolina, Delaware, West Virginia and the District of Columbia.
/CONTACT: David Walke or June Filingeri of Morgen-Walke Associates, 212-986-5900, for Richfood Holdings/
(RCHF) CO: Richfood Holdings, Inc. ST: Virginia IN: REA SU: DIV FC-OS -- NY080 -- 2907 01/23/92 14:53 EST