"Same-store sales excluding fuel decreased by 2.5% compared to COVID-elevated sales levels last year"Empire raises their dividend 10%, stock price drops 8%
The share price has gone from $13 to $78 in the last two years. Perhaps not the best time to be buying back shares.^ I don't really understand the appeal of special dividends. Why do this vs. stock buy back? The special dividend is just flung off cash and impacts market cap one time, and then it's all over. What's the benefit?
Retiring shares however permanently reduces future quarterly dividend obligations (or gives future dividend growth for "free" without increasing the $ amount) and implies upward pressure on share price.