Supervalu’s board of directors has adopted an annual share repurchase programme, allowing the company to buy up to US$235m of the company’s stock.

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The programme will be funded though cash generated by the settlement of stock options and the Hybrid Income Term Security Units equity issuance, Supervalu said.


Announcing the programme, the board also declared a regular quarterly dividend of $0.1650 per share, payable on 15 June.


There are around 209m shares outstanding in the US grocer.

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