Nordstrom (JWN) Annouces $500M Stock Buyback, Declares $0.37 Quarterly Dividend

Nordstrom (NYSE: JWN) announced today that its board of directors has authorized a repurchase program of up to $500 million of the Company’s outstanding common stock, through August 31, 2018. The Company intends to fund the repurchase program from existing cash on hand. The actual number and timing of share repurchases, if any, will be subject to market conditions and applicable Securities and Exchange Commission rules. This program is in addition to the Company’s existing repurchase program that was approved by the board in October 2015. The existing repurchase program has $529 million outstanding as of January 28, 2017, and will expire on March 1, 2017.

The company also declared a quarterly dividend of $0.37 per share, or $1.48 annualized. The dividend will be payable on March 15, 2017, to stockholders of record on March 1, 2017, with an ex-dividend date of February 15, 2017. The annual yield on the dividend is 3.3 percent.

For a dividend history and other dividend-related data on Nordstrom (JWN) click here.

You May Also Be Interested In

• Exzeo Group authorizes $25 million share repurchase program
• Carpenter Technology adds $1B share buyback after exhausting prior $400M plan
• LyondellBasell Industries (LYB) Declares $0.69 Quarterly Dividend; 4.4% Yield