Safeway Declares Special Stock Dividend Of Blackhawk Network Shares

(RTTNews) - Safeway Inc. (SWY) Monday said it will distribute the remaining 37.8 million shares it owns of Blackhawk Network Holdings to Safeway stockholders as a special stock dividend.

The special stock dividend is expected to be distributed on April 14 to shareholders of record on April 3.

Lately, Safeway has been divesting its business and simplifying it operations as it struggles to improve sales amidst weak economy and fierce competition from other big retailers.

The company is currently exploring alternatives to monetize its 49 percent stake in Mexican retailer Casa Ley S.A.