Published March 20, 2015 4:34pm EDT | Updated May 21, 2015 1:26pm EDT

Lowe's Board Approves New $5 Billion Share Buyback Program

Lowe's Companies Inc. said its board has approved a new share buyback program of up to $5 billion. The new program adds to the previous program's balance, which stood at $2.4 billion at end January. Shares of the home-improvement retailer rose 1.1% in after-hours trade and are up 12.5% in the last three months, while the S&P 500 has gained 1.8%.