Benzinga | Dec 30, 2021 08:50AM EST

Kroger Adopts $1B Share Buyback Program

* Kroger Co (NYSE:KR) said its Board of Directors had authorized a new $1 billion share repurchase program.

* The buyback plan replaces the current authorization, with about $157 million remaining as of December 29, 2021.

* The share repurchase program has no expiration date but may be suspended or terminated by the Board of Directors at any time.

* Kroger held $2.29 billion in cash and equivalents as of November 6, 2021.

* Price Action: KR shares are trading higher by 1.66% at $45.45 in premarket on the last check Thursday.