The board of Lowe’s Companies has approved a $5 billion share buyback program, The Wall Street Journal reports. The home improvement retailer may repurchase up to $18 billion of its stock over five years, pending board authorization.
The company expects to use the full amount over the next two to three years, adds Proactive Investors. The repurchases will be subject to market conditions and will be made either in the open market or via private deals, in accordance with the Securities and Exchange Commission’s requirements.
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