Wal-Mart Stores today (3 June) announced a new US$15bn share buy-back programme.
The scheme replaces a previous programme that saw the US retailer buy back almost $13bn of shares.
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“Our purchase of almost $13bn of Wal-Mart stock since last June is indicative of our strong free cash flow position,” said CFO Charles Holley. “We are pleased to continue our share repurchase program with this new $15bn authorisation.”
Under the programme, repurchased shares are constructively retired and returned to unissued status.
