Dollar Tree Climbs 11%, Raises Share Repurchase Authorization To $2.5 Bln

Shares of discount store company Dollar Tree, Inc. (DLTR) are up 11 percent on Wednesday's trading after the company raised its share repurchase authorization to $2.5 billion. The company also unveiled plans to include new price points above $1 across all Dollar Tree Plus stores.

The company's Board of Directors raised the share repurchase authorization by $1.05 billion to an aggregate amount of $2.5 billion, which includes around $1.45 billion made available for repurchases under the Board's earlier repurchase authorization approved on March 2.

Dollar Tree also recently announced that on the basis of positive customer reaction and the success of its new Combo and Dollar Tree Plus store formats, it has plans to include new price points above $1 at all its Dollar Tree Plus stores and will soon start testing additional price points above $1 in selected legacy Dollar Tree stores.

Currently at $97.45, the stock has traded between $84.26 and $120.37 during the past 52 weeks.

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