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Pet Food News
on June 24, 2009

PetSmart to buy back $350M of stock

PetSmart Inc. recently authorized a $350 million stock buyback in order to generate cash flow, according to the Wall Street Journal.

PetSmart Inc. recently authorized a $350 million stock buyback in order to generate cash flow, according to the Wall Street Journal .

PetSmart will pay a dividend of 10 cents per share - up from 3 cents - starting in the fiscal second quarter.

The stock buyback will conclude in January 2012.

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