MOORESVILLE, N.C., March 20, 2015 /PRNewswire/ -- Reflecting its
commitment to return excess cash to shareholders, the Board of
Directors for Lowe's Companies, Inc. (NYSE: LOW) has authorized a
new repurchase program of $5 billion
of the company's common stock. This new repurchase program
has no expiration date and adds to the previous program's balance,
which was $2.4 billion as of
January 30, 2015. Repurchases
will be subject to market conditions and will be made from time to
time either in the open market or through private off-market
transactions in accordance with the requirements of the Securities
and Exchange Commission. The company's repurchase program may be
suspended, discontinued or resumed at any time.
In addition, the Board of Directors has declared a quarterly
cash dividend of twenty three cents
($0.23) per share, payable
May 6, 2015, to shareholders of
record as of April 22, 2015.
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 100
home improvement company serving approximately 16 million customers
a week in the United States,
Canada and Mexico through its stores and online at
lowes.com, lowes.ca and lowes.com.mx. With fiscal year 2014
sales of $56.2 billion, Lowe's has
1,840 home improvement and hardware stores and more than 265,000
employees. Founded in 1946 and based in Mooresville, N.C., Lowe's supports the
communities it serves through programs that focus on K-12 public
education and community improvement projects. For more information,
visit Lowes.com.
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SOURCE Lowe's Companies, Inc.