Kroger Board Approves Additional Share Repurchases Of $2 Bln

(RTTNews) - The Kroger Co. (KR), Tuesday announced that its Board has approved an additional $2 billion share repurchase authorization, in addition to the previously announced $7.5 billion share repurchase authorization.

The company expects to fund these share repurchases with cash generated from operations and existing liquidity and remains committed to maintaining its investment-grade credit rating.

Kroger said that the recent announcement reflects the Board's confidence in the company's strong growth outlook and balance sheet.

In the pre-market hours, KR is trading at $62.35, up 0.13 percent on the New York Stock Exchange.