Latest Posts

Dollar Tree Gains on Raising Buyback Size by $1.05 Billion

imageStock Markets12 minutes ago (Sep 29, 2021 10:46AM ET)

(C) Reuters.

By Dhirendra Tripathi – Dollar Tree stock (NASDAQ:DLTR) jumped 13% on Wednesday after the company expanded its share buyback program.

With a fresh approval for $1.05 billion, Dollar Tree is now willing to pump in $2.5 billion into buying back its own shares.

The discount retailer also said it would raise prices for some items to $1.25 or even $1.50 in some stores to account for higher costs.

As for the buyback, the aggregate amount includes around $1.45 billion available for repurchases under the board’s previous repurchase authorization approved on March 2, 2021.

Dollar Tree has repurchased shares amounting to $950 million in the ongoing financial year that runs through January.

Its equity base comprises 224.911 million shares and it had a market cap of $19.54 billion as of close Tuesday. At this price ($86.28) and commitment then — the buyback has the potential to reduce the share count by around 13%.

The company said it will buy back shares from time to time in the open market or through privately negotiated transactions. There is no expiration date to the exercise.

Dollar Tree Gains on Raising Buyback Size by $1.05 Billion

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Posts

Don't Miss