(CercleFinance.com) – Food distributor Kroger says its board has authorized a new billion-dollar share buyback program, replacing the current authorization, which had about $ 157 million remaining at the 29 December.
“This clearance reflects our board’s confidence in the strength of our free cash flow and our ability to generate consistently strong and attractive total returns to shareholders,” commented CEO Rodney McMullen.
Kroger may effect such buybacks in open market or over-the-counter transactions, including expedited buybacks or block transactions. The program does not have an expiration date, but can be suspended or terminated at any time.
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