This excerpt taken from the ROST 8-K filed Nov 15, 2005.
New $400 Million Stock Repurchase Authorization and 20% Increase in Dividend
Mr. Balmuth continued, Strong cash flows continue to provide the resources to fund capital investments in new store growth and infrastructure, as well as the Companys stock repurchase and dividend programs. Reflecting this strength, we are pleased to report that our Board of Directors has authorized a new two-year $400 million share repurchase program and a 20% increase in the quarterly cash dividend. The new stock buyback program represents over 10% of the Companys total market value at current price levels. The new quarterly cash dividend of $.06 per common share is payable on or about January 3, 2006 to stockholders of record as of December 7, 2005.
During the first nine months of 2005, we also repurchased 4.9 million shares of common stock for an aggregate purchase price of $133 million. In addition to todays newly announced share repurchase program, approximately $42 million remains available for future repurchases under the prior two-year, $350 million stock repurchase program authorized in early 2004, which we expect to complete this year. We ended the third quarter with 144.7 million shares of common stock outstanding, Mr. Balmuth said.