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Ruddick Corporation Announces Results Of Annual Shareholders’ Meeting And Quarterly Dividend

Ruddick Corporation (NYSE: RDK) reported that at its Annual Meeting of Shareholders today, the following actions were taken: (1) the current ten directors were re-elected to the Board of Directors to serve until the next Annual Meeting of Shareholders or until their respective successors are duly elected and qualified; (2) the shareholders approved an amendment to the restated Articles of Incorporation authorizing the Board of Directors to change the name of the corporation to “Harris Teeter Supermarkets, Inc.”; (3) the shareholders approved an advisory (non-binding) “Say on Pay” vote approving the compensation of the Company’s named executive officers as described in the Proxy Statement; and (4) the shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm of the Company for the fiscal year ending September 30, 2012. The Shareholders’ approval of the above-referenced amendment provided authority to the Company to implement the name change at such time as may be determined by the Company’s Board of Directors (the “Board”), or to abandon the name change as determined by the Board. At this time, the Board has not implemented the name change.

The Company also announced that its Board of Directors, at a regularly scheduled meeting, declared a quarterly dividend in the amount of $0.14 per share to be paid on April 1, 2012, to shareholders of record on March 9, 2012. This represents a $0.01 increase from the $0.13 per share dividend that the Company paid in previous quarters.

Ruddick Corporation is a holding company for Harris Teeter, Inc., a leading regional supermarket chain with operations in eight states primarily in the southeastern and mid-Atlantic United States, and the District of Columbia.

Copyright Business Wire 2010

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