Family Dollar Plans Buyback

The big retail chain says it likes its shares at these levels.
Author:
Publish date:

Family Dollar

(FDO)

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.

"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.