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The Kroger Co. announced yesterday that its board of directors has approved a repurchase of $500 million worth of the company’s stock. CEO David Dillon said in a statement that “the new share repurchase plan reflects our confidence in the company's strategic direction and our belief that Kroger shares represent an attractive investment opportunity.”

The new stock repurchase replaces an existing $500 million buyback that begin in 2002 and still had $15.9 million remaining.
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