MOORESVILLE, N.C., Jan. 27, 2017 /PRNewswire/ -- Reflecting its commitment to return excess cash to shareholders, the Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) today authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $627 million as of Oct. 28, 2016. Repurchases will be subject to market conditions and will be made from time to time either in the open market or through private off-market transactions in accordance with the requirements of the Securities and Exchange Commission. The company's repurchase program may be suspended, discontinued or resumed at any time.
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe's and its related businesses operate or service more than 2,355 home improvement and hardware stores and employ over 285,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe's supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.
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SOURCE Lowe's Companies, Inc.