Dillard’s Pops on Stock Buy-Back Announcement (DDS)

Shares of Dillard’s Inc. DDS are higher on the session by 4.97%, currently trading at $20.38. The stock has been moving largely lower over the past four months, off from recent highs near $31.25, but are popping today on news that DDS will be repurchasing up to $250 million of the company’s stock. The buy-back will consists entirely of Class A common stock. The new open-ended authorization permits the company to repurchase shares in the open market or through privately negotiated transactions. Additionally, the board of directors declared a cash dividend of 4 cents per share on the Class A and Class B Common Stock of the Company payable November 1, 2010 to shareholders of record as of September 30, 2010. Dillard's, Inc. is engaged in apparel and home furnishing retail business. As of January 30, 2010, the company operated 309 Dillard's stores, including 12 clearance centers and one Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. Source: Dillard’s Inc.