Home Depot approves $18 billion buyback; increases quarterly dividend by 26 percent

Markets Associated Press

Home Depot is announcing an $18 billion share repurchase program and boosting its quarterly dividend by 26 percent.

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The Atlanta home improvement store said Tuesday that its buyback replaces a prior authorization.

Its dividend will now be 59 cents per share. The dividend will be paid on March 26 to shareholders of record on March 12.

The Home Depot Inc. also reported a fiscal fourth-quarter profit of $1.38 billion, or $1.05 per share, for the period ended Feb. 1.

Revenue was $19.16 billion.