Sysco's net earnings reflect a $39 increase in year-over-year tax expense primarily related to an IRS settlement gain and higher non-taxable corporate owned life insurance gains recorded in the year-earlier quarter.
Sysco maintained its 25 cent-per-share dividend.
United Natural Foods, a distributor of natural, organic and specialty foods, saw its share price dip 0.4% Monday morning.Spartan, a regional grocery distributor in Michigan and Indiana, bid 0.8% lower. Core-Mark, which supplies the convenience retail industry, traded 0.1% higher. -- Written by Miriam Marcus Reimer in New York.
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