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Family Dollar Stores Inc Increases Regular Quarterly Dividend By 23.8% And Announces Additional Share-repurchase Authorization Of $300 Million-DJ


Thursday, 17 Jan 2013 02:10pm EST 

Dow Jones reported that Family Dollar Stores Inc announced that the Company's Board of Directors has increased the amount of the regular quarterly dividend payment to $0.26 per share, an increase of 23.8% from the preceding quarterly cash dividend of $0.21 per share. The increase will be effective with the declaration of the next quarterly dividend. In addition, the Company's Board of Directors has authorized the Company to purchase an additional $300 million of its common stock through its existing share-repurchase program. The Company intends to fund these repurchases through cash from operations. This new authorization is in addition to the Company's current share-repurchase authorization. Prior to the new authorization, the Company had existing authorization to repurchase approximately $94 million of its common stock.