Benzinga | Sep 29, 2021 10:02AM EDT

Why Dollar Tree Shares Are Trading Higher Today

Dollar Tree, Inc. (NASDAQ:DLTR) shares are trading higher after the company increased its buyback program by $1.05 billion, to a total of $2.5 billion.

"Delivering value to our customers and shareholders is our top priority. We are committed to a disciplined capital allocation strategy that balances returning capital to our shareholders and investing in our business for growth," stated Michael Witynski, President and Chief Executive Officer.

Dollar Tree operates discount variety retail stores. It operates through two segments, Dollar Tree and Family Dollar.

Dollar Tree's stock was trading 8.8% higher at $93.88 per share on Wednesday at the time of publication. The stock has a 52-week high of $120.37 and a 52-week low of $84.26.