Dollar Tree Inc. (DLTR) said its board has authorized the repurchase of an additional $500 million of its common stock. Stock repurchases may be made, from time-to-time, either in the open market or via. privately negotiated transactions, at management's discretion, depending on market conditions and other factors, in accordance with Securities and Exchange Commission requirements.
The company said this authorization is in addition to the October 2007 buyback authorization, of which the company has around $42 million remaining. The company has invested $1.4 billion for share repurchase since 2003, including $218 million in the first quarter 2010.
President and Chief Executive Bob Sasser noted, "The increase in our share repurchase authority reflects our commitment to build value for long-term shareholders and our confidence in the future."
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