Lowe’s adds $5bn to buyback authorization, $6.3bn current total (~12% of mkt cap)

Lowe’s (LOW) reported Q4 results today and announced its board has authorized the repurchase of an additional $5bn of the company’s common stock in addition to the remaining balance of $1.3bn from the previous authorization for a total of $6.3bn authorization as of 1/31/14. No expiration date for the repurchases. For the fiscal year, the company repurchased $3.7bn (~$1bn in Q4).