Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Last Call for Cyber Monday! Save Now on Claim 60% OFF
Dollar Tree Gains on Raising Buyback Size by $1.05 Billion
Published Sep 29, 2021 09:02AM ET
Updated Sep 29, 2021 10:46AM ET
© Reuters.
By Dhirendra Tripathi
Investing.com – Dollar Tree stock (NASDAQ:DLTR) jumped 13% on Wednesday after the company expanded its share buyback program.
With a fresh approval for $1.05 billion, Dollar Tree is now willing to pump in $2.5 billion into buying back its own shares.
The discount retailer also said it would raise prices for some items to $1.25 or even $1.50 in some stores to account for higher costs.
As for the buyback, the aggregate amount includes around $1.45 billion available for repurchases under the board’s previous repurchase authorization approved on March 2, 2021.
Dollar Tree has repurchased shares amounting to $950 million in the ongoing financial year that runs through January.
Its equity base comprises 224.911 million shares and it had a market cap of $19.54 billion as of close Tuesday. At this price ($86.28) and commitment then -- the buyback has the potential to reduce the share count by around 13%.
The company said it will buy back shares from time to time in the open market or through privately negotiated transactions. There is no expiration date to the exercise.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.