The board of Kroger Co. has approved a $1 billion share buyback program. The repurchase program will replace the existing authorization that has approximately $213 million remaining.
The authorization is likely to be used over the next 12 months. At present, the company has a market capitalization of about $13.4 billion. The board also increased the dividend to $0.115 from $0.105.
Click here for the release from PR Newswire.