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Family Dollar Plans Buyback

The big retail chain says it likes its shares at these levels.
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Family Dollar


set plans Friday for an added $300 million share buyback due to start in October.

The Mathews, N.C., retailer said it has bought back $92 million worth of stock this year under a previous plan. Altogether, the company said it could buy back as many as 18 million shares with money dedicated to the repurchase effort.

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"We continue to believe that our stock is an attractive investment and that our share repurchase program builds value for shareholders," said CEO Howard Levine.

On Friday, Family Dollar shares slipped a nickel to $21.24.