Safeway Inc. announced that its board of directors approved an increase to its regular quarterly cash dividend from $0.175 per share to $0.20 per share, reflecting a 14% increase. The board also declared a cash dividend of $0.20 per share payable on July 11, 2013 to stockholders of record at the close of business on June 20, 2013.

Safeway Inc. announced that Robert L. Edwards, currently the company's President, will succeed Steven A. Burd as Chief Executive Officer when Mr. Burd retires as Chairman and Chief Executive Officer on May 14, 2013. Mr. Edwards, 57, will also join the company's Board of Directors. The company announced that T. Gary Rogers, currently the company's Lead Independent Director, will become Non-Executive Chairman upon Mr. Burd's retirement. Prior to joining the company, Mr. Edwards served as a senior executive at Maxtor Corporation, Imation Corporation and Santa Fe Pacific Corporation.

Safeway Inc. announced unaudited consolidated earnings results for the first quarter ended March 23, 2013. For the quarter, the company reported sales and other revenue of $9,994.0 million against $10,003.0 million a year ago. Operating profit was $179.8 million against $189.8 million a year ago. Income before income taxes was $121.4 million against $123.7 million a year ago. Net income attributable to the company was $118.9 million against $72.9 million a year ago. Income from continuing operations, net of tax was $118.8 million or $0.49 per diluted share against $81.6 million or $0.30 per diluted share a year ago. Net cash used in operating activities was $555.2 million against $541.8 million a year ago. Cash paid for property additions was $144.9 million against $308.4 million a year ago due primarily to an increase in the use of cash for working capital. Adjusted EBITDA was $462.7 million against $475.8 million against $514.3 million a year ago. Diluted earnings per share were $0.49 against $0.27 per share a year ago. The company also reported property impairment charges of $12.1 million for the first quarter of 2013 against $13.5 million a year ago. Safeway's guidance for 2013 remains unchanged at $2.25 to $2.45 earnings per diluted share. Half of the $0.14 per diluted share of tax benefits was anticipated in the original earnings guidance and half was not. However, the unanticipated tax benefits roughly offset the expected dilution to Safeway's earnings from the Blackhawk IPO. Guidance for nonfuel ID sales growth remains at 2% to 3%, operating profit margin change, excluding fuel, at flat to a positive 10 basis points, and free cash flow at $850 million to $950 million. For the year, Safeway expects to invest approximately $1.0 billion to $1.1 billion in capital expenditures. The company expects tax rate of 31%.