Are You Missing Out on This 24% Dividend Raise?

It isn't exactly common for a company to declare a double-digit dividend raise. It's also rare when this comes from a business in a sector not generally known for doing so.

Yet that was the case in late June when Kroger (NYSE: KR) announced its upcoming set of payouts. In doing so, the veteran supermarket operator unveiled a hefty dividend increase of 24%; let's unpack the reasons why -- and whether this makes it a good dividend stock to own now.

In announcing that dividend raise (to $1.04 annually spread among four quarterly payouts, from the preceding $0.84) Kroger CEO Rodney McMullen said, "Our business continues to generate strong and consistent free cash flow and has proven to be resilient in a variety of operating environments."

Source Fool.com