Dillard's Adopts $500M Share Buyback Program

Dillard’s Inc DDS board has approved a new share repurchase program to repurchase up to $500 million of its common stock.
The new open-ended authorization permits the company to repurchase its shares in the open market.
The board also declared a cash dividend of $0.20 per share, payable May 2, 2022, to shareholders of record as of March 31, 2022.
The company held $716.8 million in cash and equivalents as of January 29, 2022.
Price Action: DDS shares closed higher by 7.00% at $242.90 on Thursday.