Dollar Tree authorizes $1.5 billion buyback

Chesapeake, Va. -- Dollar Tree said that its board has approved a $1.5 billion share repurchase program. The company said it has invested more than $1.9 billion for share repurchase since 2003, including $414.7 million in 2010 and $345.9 million in 2011, to date.

“Dollar Tree continues to demonstrate the ability to self-fund growth while generating substantial free cash,” said president and CEO Bob Sasser. “The new share repurchase authorization reflects our commitment to build value for long-term shareholders and our confidence in the future.”