Food Lion Plans to Repurchase Up to $100 Million of Its Stock

By Nowell, Paul | THE JOURNAL RECORD, May 5, 1995 | Go to article overview

Food Lion Plans to Repurchase Up to $100 Million of Its Stock


Nowell, Paul, THE JOURNAL RECORD


Associated Press

SALISBURY, N.C. _ Saying he, too, was frustrated with the value of his shares, Food Lion Chairman Tom Smith told shareholders at Thursday's annual meeting that the supermarket chain will buy back up to $100 million of its common stock.

"I heard a lot of you express your feelings about the stock price," Smith told about 600 shareholders who attended the company's meeting at Catawba College. "I'm a shareholder, too.

"We've taken a lot of steps and we feel we're on track for a growth strategy," Smith said. "Food Lion is committed to the long-term value of its stockholders."

Smith received loud applause when he announced the board's decision on Wednesday to buy back the stock, which would total about 4 percent of its roughly 484 million outstanding shares.

Smith said the company will buy the shares from time to time on the open market, with a goal of increasing shareholder value.

In afternoon trading, Food Lion stock was up 12 cents at $5.50 a share on the Nasdaq stock market. Shares have been hovering between $5 and $6 a share for months.

While the meeting lacked the fireworks of recent years, a spokesman for a pro-union group criticizing the grocery chain for selling outdated products was drowned out by shouts and loud coughs when he rose to speak. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Food Lion Plans to Repurchase Up to $100 Million of Its Stock
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.