DOLLAR GENERAL TO REPURCHASE COMMON STOCK.NASHVILLE, Tenn.--(BUSINESS WIRE)--Aug. 13, 1997-- Dollar General Corporation (NYSE NYSE See: New York Stock Exchange : DG) announced today that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the Company to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. from time to time, in the open market or in privately negotiated transactions, up to five million shares of its outstanding common stock. The Company currently has 106.9 million shares of common stock issued and outstanding. The repurchase authority allows the Company selectively to repurchase through June 2, 1999, its common stock from time to time depending upon market price and other factors. Cal Turner, Jr., Chairman and Chief Executive Officer, made the announcement stating, "A continuing strength of Dollar General is the cash flow of our operations. Our first priority for such funds continues to be investing in the growth and development of our business; however, as cash is available, stock repurchases Stock repurchase A firm's repurchase of outstanding shares of its common stock. would be a great investment for our shareholders." Dollar General is a chain of more than 3,004 neighborhood stores operating in 24 states with distribution centers in Kentucky, Georgia, Oklahoma and Virginia. The company's common stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . CONTACT: Dollar General, Nashville Kiley Fleming (Investor Contact), 615/783-2014 or Cabot Pyle (Media Contact), 615/783-2028 |
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