Lowes Cos. (LOW) has set aside an additional $5 billion to buy back shares.

As of Jan. 30, the company had $2.4 billion available under a previous authorization.

The retailer has benefited from a rebounding home-improvement sector, a trend it expects to continue in 2015.

Shares, trading near all-time highs, edged up to $75.52 in recent after-hours trading.

Through Wednesday's close, the stock had risen nearly 52% over the past 12 months.

Write to Maria Armental at maria.armental@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Lowes Companies (NYSE:LOW)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Lowes Companies Charts.
Lowes Companies (NYSE:LOW)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Lowes Companies Charts.