Chico's FAS Says Board Approves New $300 Mln Share Buyback Authorization

(RTTNews) - Specialty retailer Chico's FAS Inc. (CHS), Thursday said its board canceled the remainder of its March 2013 share repurchase program and approved a new $300 million share repurchase authorization. The new repurchase approval follows the company's recent announcement to hike its quarterly dividend per share by 36 percent, equating to an annualized increase of $0.08 per share.

The company also said it repurchased about 6.7 million common shares, for nearly $125 million, during the 2013 fourth-quarter, completing all but $55 million of its existing share repurchase authorization.