Lowe's To Repurchase $5B Of Stock

Lowe's Companies Inc LOW reported that its board has authorized a $5 billion shares repurchase program. Lowe's also declared a quarterly cash dividend of $0.14 per share. Last week, Lowe's reported downbeat quarterly sales and lowered its fiscal-year forecast. Lowe's shares dropped 1.38% to close at $19.31 on Friday.