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Pet Food News
On October 1, 2013

PetSmart increases quarterly dividend by 18 percent

Board approves increase to US$0.195 per share beginning third-quarter fiscal 2013

Petfood and supplies retailer PetSmart Inc. announced its board of directors approved an increase in its quarterly dividend by 18 percent from US$0.165 to US$0.195 per share beginning in the third quarter of fiscal 2013. The dividend of US$0.195 will be paid on November 15 to stockholders of record at the close of business on November 1. This is equivalent to an annual rate of US$0.78 per share.

The board of directors also authorized a new US$535 million share purchase authorization that expires on January 31, 2015. This new share purchase authorization will commence on October 1 and will be in addition to any unused amount remaining under the June 2012 share purchase authorization as of that date.

"We believe the stability and predictability of our cash flow demonstrates the continued strength of our business," said David Lenhardt, CEO, "and today's announcement reaffirms our commitment to returning excess cash to our shareholders through a combination of dividends and share repurchases."

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March 2015

The March 2015 issue of Petfood Industry focuses on emerging pet industry trends. Read about NutriFusion, a company that saw immediate growth after expanding from human food into the pet food industry with its fruit and vegetable nutrient-dense products. Also, learn about how so-called "superfoods" are trending as a new pet food ingredient, and why innovation, convenience and sustainability are key in pet food packaging.

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