Nordstrom (JWN) Approves $750 Million Stock Buyback Plan; Approves Quarterly Cash Dividend

Nordstrom, Inc. (NYSE: JWN) announced today that its board of directors has authorized a repurchase program of up to $750 million of the Company’s outstanding common stock, through February 2, 2013. The shares are expected to be acquired through open market transactions. The Company intends to fund the repurchase program from existing cash on hand.

The existing repurchase program has $235 million outstanding, as of April 30, 2011, and will expire on January 28, 2012.

Nordstrom also announced today that its board of directors has approved a quarterly dividend of 23 cents per share payable on June 15, 2011, to shareholders of record on May 31, 2011.

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