MOORESVILLE, N.C., Jan. 27, 2017 /PRNewswire/ -- Reflecting its
commitment to return excess cash to shareholders, the Board of
Directors for Lowe's Companies, Inc. (NYSE: LOW) today 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 $627 million as of Oct. 28, 2016. 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.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a
FORTUNE® 50 home improvement company serving more than
17 million customers a week in the United
States, Canada and
Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe's and its related businesses
operate or service more than 2,355 home improvement and hardware
stores and employ over 285,000 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.