Dillard's Adopts $500M Share Buyback Program

• Dillard’s Inc (NYSE:DDS) board has approved a new share repurchase program to repurchase up to $500 million of its common stock.
• The new open-ended authorization permits the company to repurchase its shares in the open market.
• The board also declared a cash dividend of $0.20 per share, payable May 2, 2022, to shareholders of record as of March 31, 2022. 
• The company held $716.8 million in cash and equivalents as of January 29, 2022.
• Price Action: DDS shares closed higher by 7.00% at $242.90 on Thursday.