Shareholders also approved a proposal to decrease the size of the Board of Directors from twelve to eleven directors and a proposal to amend the Company's Bylaws to provide for the annual election of all directors and for the fixing of the number of directors by the Board of Directors within the range established by the shareholders.
The Company also announced that its Board of Directors, at a regularly scheduled meeting, declared a quarterly dividend in the amount of $0.12 per share to be paid on April 1, 2008, to shareholders of record on March 14, 2008.
Ruddick Corporation is a holding company with two primary operating subsidiaries: Harris Teeter Inc, a leading regional supermarket chain with operations in eight southeastern states and American & Efird Inc one of the world's largest global manufacturers and distributors of industrial sewing thread, embroidery thread and technical textiles.
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