Family Dollar Increases Regular Quarterly Dividend by 23.8% and Announces
Additional Share-Repurchase Authorization of $300 Million
MATTHEWS, N.C. -- January 17, 2013
Family Dollar Stores, Inc. (NYSE:FDO) announced today that the Company’s Board
of Directors has increased the amount of the regular quarterly dividend
payment to $0.26 per share, an increase of 23.8% from the preceding quarterly
cash dividend of $0.21 per share. The increase will be effective with the
declaration of the next quarterly dividend.
“Our Board’s decision to maintain our remarkable record of 37 consecutive
years of dividend increases shows their unwavering commitment to shareholders,
and the increase of 23.8% reflects our confidence in the Company’s long-term
growth potential,” said Howard Levine, Chairman and CEO.
In addition, the Company’s Board of Directors has authorized the Company to
purchase an additional $300 million of its common stock through its existing
share-repurchase program. The Company intends to fund these repurchases
through cash from operations. The share-repurchase program does not have an
expiration date, and share repurchases may be effected through trading plans,
open-market repurchases, privately negotiated transactions, accelerated
share-repurchase transactions, and/or other transactions. The timing and
amount of repurchase transactions under this program will depend upon market
conditions, corporate considerations and regulatory requirements.
This new authorization is in addition to the Company’s current
share-repurchase authorization. Prior to the new authorization, the Company
had existing authorization to repurchase approximately $94 million of its
About Family Dollar
For more than 50 years, Family Dollar has been providing value and convenience
to customers in easy-to-shop neighborhood locations. Family Dollar’s mix of
name brands and quality, private brand merchandise appeals to shoppers in more
than 7,500 stores in rural and urban settings across 45 states. Helping
families save on the items they need with everyday low prices creates a strong
bond with customers, who often refer to their neighborhood store as “my Family
Dollar.” Headquartered in Matthews, North Carolina, just outside of Charlotte,
Family Dollar is a Fortune 300, publicly held company with common stock traded
on the New York Stock Exchange under the symbol FDO. For more information,
please visit www.familydollar.com.
Family Dollar Stores, Inc.
Kiley F. Rawlins, CFA, 704-708-2858
Josh Braverman, 704-814-3447
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