Home Depot just stuck it to every worker (like the rest of the BIG companies do) [View all]

[Omaha Steve]

Home Depot is buying back shares of it's stock to push the price up. It upped the dividend too. Part of this $ should have gone to pay and benefits. None of it did! What ever happened to profit sharing???


http://hosted.ap.org/dynamic/stories/U/US_HOME_DEPOT_BUYBACK?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT


HOME DEPOT 4Q TOPS STREET ON HOLIDAY; OKS $18B BUYBACK

BY MICHELLE CHAPMAN
AP BUSINESS WRITER

NEW YORK (AP) -- Shoppers liked what they saw at Home Depot during the holidays, helping the home improvement chain beat Wall Street expectations for its fourth-quarter results. The retailer also authorized the repurchase of $18 billion of its own shares, boosted its quarterly dividend by 26 percent and released a better-than-expected outlook for the year.

Its shares rose 3 percent in morning trading Tuesday after briefly hitting an all-time high.

The Atlanta-based company posted a fourth-quarter profit of $1.38 billion, or $1.05 per share, for the period ended Feb. 1. Excluding a gain related to the sale of a portion of HD Supply, its profit was $1 per share. That's well above the 89 cents per share that analysts had expected, according to a survey by FactSet.

Revenue was $19.16 billion, also better than Wall Street's projection of $18.68 billion.

FULL story at link.