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Tractor Supply approves $600 million share buyback

Brentwood, Texas -- Tractor Supply Co. said Thursday it approved a $600 million stock buyback program, increases its existing share buyback program to $1 billion. The program was established in February 2007, and is extended through April 30, 2015.

The chain said it will also increase its quarterly cash dividend to 12 cents per share.

Tractor Supply, the largest retail farm and ranch retail chain in the United States, said the dividend is a 71% increase over its previous payments of 7 cents per share. The dividend will be paid June 1 to stockholders of record at the close of business May 16.

© 2014