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

IndustriesAssociated Press

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

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

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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.