PLEASANTON, Calif. — The board of directors of Safeway here said Friday that it had authorized the company to repurchase another $1 billion worth of its stock.
The authorization increased Safeway’s current repurchase plan to $6 billion. The retailer had about $720 million left under its current repurchase authorization.
The timing and volume of the purchase will depend on market conditions, the company said.
Safeway also announced a 10 cents per share dividend, payable to qualified shareholders on Jan. 14.
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