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Costco increases dividend, announces share buyback
ISSAQUAH, Wash. — Wholesaler Costco on Tuesday said its board of directors has approved a $4 billion share buyback program. The company also raised its quarterly dividend by 17% to 24 cents, up from 20.5 cents.
The share buyback program expires in April 2015 and replaces a previous plan set to expire in July, which had $800 million remaining, the company said.
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Shoppers Drug Mart reports Q1 results
TORONTO — Shoppers Drug Mart posted a 2.7% boost in first-quarter sales, driven by strong front-store sales gains that benefited from marketing campaigns, promotions and market share gains of the company's core health, beauty and convenience categories.
Front-end same-store sales rose 4.4% during the quarter ended March 26. Sales at the front end were C$1.197 billion ($1.26 billion), up 6% compared with the year-ago period.