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Supervalu To Buy Back Up To $70M In Stock

Stock quotes in this article: SVU  

MINNEAPOLIS (AP) — Supermarket chain Supervalu Inc. said Thursday that its board approved a new annual plan that allows the company to buy back up to $70 million in common shares.

Supervalu said the plan replaces the company's current $70 million share buyback plan, which had been authorized last May. The company repurchased 641,500 shares for $16.6 million under that plan.

The company also said its board approved a 1.45 percent increase to its annual dividend, raising it to 70 cents per share from last year's 69 cents per share. ...

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