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SMALL BUSINESS
Walgreen approves $2B stock buyback plans
AP
DEERFIELD, Ill. -Drugstore operator Walgreen Co. said Thursday it plans to buy back $2 billion in stock by the end of 2013.
Walgreen approved a $1 billion stock buyback in January 2007, and has repurchased $345 million in stock since then. The balance is being replaced by the new plan. Walgreen also declared a quarterly dividend of 13.75 cents. The dividend is payable Dec. 12 to shareholders of record on Nov. 16.
The company runs 7,045 drugstores around the country, including all 50 states, Washington DC and Puerto Rico.
Walgreen shares rose 20 cents to $38.95 in morning trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-15 09:41:40
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