Now that a bank restriction that has kept Kroger Co. from paying dividends for 14 years has been lifted, shareholders are hankering for part of the earnings.

        At Kroger's annual meeting Thursday, chairman and CEO Joseph Pichler said the ban was lifted with the company's debt restructuring last month. But when he was urged to restore the dividend that was last paid in 1988, Mr. Pichler said none was in the works.

        “It's not a promise, folks,” he said. “The requirement of the board is to maximize value; and every year, we will look at the set of activities that will maximize value. We will certainly consider dividends.”

        In 2001, Kroger spent $2.2 billion on capital outlays, $732 million on stock repurchases and $129 million on charity. Ed Naberhaus, a longtime shareholder from New Braunfels, Texas, said it's time to restore a dividend.

        “With their earnings, they should be paying dividends,” he said. “The officers have always gotten increases in their salaries and stock options. The shareholders have gotten zilch. They should think of us.”

— James McNair

Have a tip about a Tristate company? Call 768-8147 or e-mail business@enquirer.com.

WorldCom clobbers state pension funds
WorldCom execs subpoenaed
Firstar is changing name, again
Peoples asks judge to release home liens
Economic recovery zooms, then stalls
Kmart's new boss thanks faithful
New scandal keeps heat turned up on Andersen
F&W to purchase Krause
Toyota's North American president returning to Japan
Business Digest
Industry notes: Manufacturing
Tristate Summary
Morning Memo
What's the Buzz?