Tractor Supply Company Increases Quarterly Cash Dividend 71% to $0.12 and Authorizes Additional $600 Million for Share Repurchases (TSCO)

Tractor Supply Company TSCO, the largest retail farm and ranch store chain in the United States, today announced that its board of directors increased the Company's quarterly cash dividend 71% to $0.12 per share of the Company's common stock, up from $0.07 per share in the previous quarter.  The dividend will be paid on June 1, 2011, to stockholders of record as of the close of business on May 16, 2011. The Board also authorized a $600 million increase to its existing share repurchase program, bringing the total amount authorized to date under the program to $1 billion. The program, established in February 2007, also has been extended through April 30, 2015.  As of March 26, 2011, the Company had purchased 12.6 million shares for approximately $310.5 million.  The remaining $689.5 million available under the expanded share repurchase program represents approximately 15% of the Company's outstanding shares at current prices.