Declares Cash Dividend
MOORESVILLE, N.C., Aug 22, 2011 (BUSINESS WIRE) --
The Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) has
authorized the repurchase of up to $5 billion of the company's common
stock. Although this new repurchase authorization has no expiration
date, the company expects to use the full amount over the next two to
three years. The repurchases will be subject to market conditions and
will be made from time to time either in the open market or through
private transactions in accordance with the requirements of the
Securities and Exchange Commission. The company's repurchase program may
be suspended, discontinued or resumed at any time.
In addition, the Board of Directors has declared a quarterly cash
dividend of fourteen cents ($0.14) per share, payable November 2, 2011,
to shareholders of record as of October 19, 2011.
With fiscal year 2010 sales of $48.8 billion, Lowe's Companies, Inc. is
a FORTUNE(R) 50 company that serves approximately 15 million customers a
week at more than 1,725 home improvement stores in the United States,
Canada and Mexico. Founded in 1946 and based in Mooresville, N.C.,
Lowe's is the second-largest home improvement retailer in the world. For
more information, visit Lowes.com.
SOURCE: Lowe's Companies, Inc.
Lowe's Companies, Inc.
Tiffany Mason, 704-758-2033
Chris Ahearn, 704-758-2304