By Colin Kellaher
Tractor Supply's board raised the retailer's quarterly dividend by 4.5%, to 23 cents from 22 cents, and added $1 billion to its share-repurchase authorization.
The new quarterly payout, equal to 92 cents a year, represents an annual yield of about 1.65% based on Wednesday's closing price of $55.87, up from 1.58%.
The Brentwood, Tenn., company on Thursday said the increased dividend is payable March 11 to shareholders of record Feb. 26.
Tractor Supply said the new buyback increase brings the total amount authorized to date under its repurchase program to $7.5 billion, adding that as of Dec. 28, it had shelled out about $6.03 billion to buy back 357.4 million shares since the program's inception in 2007.
The company currently has around 534 million shares outstanding and sports a market capitalization of nearly $29.4 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 13, 2025 09:30 ET (14:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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