Nordstrom Board of Directors Authorizes $500 Million Share Repurchase Program and Approves Quarterly Dividend
February 17 2017 - 9:00AM
Business Wire
Nordstrom, Inc. (NYSE: JWN) announced today that its board of
directors has authorized a repurchase program of up to $500 million
of the Company’s outstanding common stock, through August 31, 2018.
The Company intends to fund the repurchase program from existing
cash on hand. The actual number and timing of share repurchases, if
any, will be subject to market conditions and applicable Securities
and Exchange Commission rules. This program is in addition to the
Company’s existing repurchase program that was approved by the
board in October 2015. The existing repurchase program has $529
million outstanding as of January 28, 2017, and will expire on
March 1, 2017.
Nordstrom, Inc. also announced today that its board of directors
approved a quarterly dividend of 37 cents per share payable on
March 15, 2017, to shareholders of record at the close of business
on March 1, 2017.
About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer
based in the U.S. Founded in 1901 as a shoe store in Seattle,
today Nordstrom operates 349 stores in 40 states,
including 123 full-line stores in the United
States, Canada and Puerto Rico; 215 Nordstrom Rack
stores; two Jeffrey boutiques; and two clearance stores.
Additionally, customers are served online through
Nordstrom.com, Nordstromrack.com and HauteLook. The
company also owns Trunk Club, a personalized clothing service
serving customers online at TrunkClub.com and its seven
clubhouses. Nordstrom, Inc.’s common stock is publicly
traded on the NYSE under the symbol JWN.
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Nordstrom, Inc.INVESTOR CONTACT:Trina Schurman,
206-303-6503
Nordstrom (NYSE:JWN)
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