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Lowe’s starts share repurchase program

MOORESVILLE , N.C. — The board of directors of Lowe's Companies, Inc. has approved a share repurchase program of up to $1 billion.

The purchases will be made from time to time in either on the open market or through private transactions, the company reported. As of Oct. 29, 2004 , Lowe's Companies, Inc. had 772 million shares outstanding.

"Following our $1 billion share repurchase in 2004, this additional authorization from the board is an indication of the financial strength of Lowe's and, with ongoing dividend payments, allows us to enhance the overall return to shareholders," commented Robert Niblock, Lowe's chairman, president and CEO.

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