Whole Foods to reinstate quarterly dividend

Austin, Texas -- Whole Foods Market said Wednesday that its board approved a quarterly cash dividend of 10 cents per share reinstating the quarterly payment after more than two years with none. The dividend will be payable Jan. 20 to shareholders of record as of Jan. 10.

John Elstrott, chairman of Whole Foods' board, said in a statement that the decision to bring back the dividend stems from the company's strong financial position and outlook.

The grocer suspended its dividend in August 2008 as it cut costs and faced a 30% drop in third-quarter net income.

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