PetSmart Announces 18% Dividend Increase And New $535 Mln Stock Buyback

(RTTNews) - PetSmart, Inc. (PETM) announced that its Board of Directors has approved an increase in its quarterly dividend by 18% from $0.165 to $0.195 per share, payable on November 15, 2013 to stockholders of record at the close of business on November 1, 2013.

The company said that its Board of Directors also authorized a new $535 million share purchase authorization that expires on January 31, 2015. This new share purchase authorization will commence on October 1, 2013, and will be in addition to any unused amount remaining under the June 2012 share purchase authorization as of that date.