Dillard’s Inc. of Little Rock announced Wednesday that its board of directors approved another share repurchase program that would allow the department store chain to buy up to $250 million of its Class A Common Stock.
In May 2011, Dillard’s board approved the company repurchasing up to $250 million worth of its Class A Common Stock. As of Tuesday, $27.5 million remained outstanding under the program, according to a Dillard’s news release.
"The new open-ended authorization permits the Company to repurchase its Class A Common Stock in the open market or through privately negotiated transactions," the news release said.
Also on Wednesday, the board of directors approved a cash dividend of 5 cents per share on the Class A and Class B stock (NYSE: %%DDS%%) payable May 1 to shareholders of record as of March 30.
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