The Board of Directors of Ross Stores Inc. (NasdaqGS:ROST) authorized a share repurchase program on January 1, 2013. Under the program, the company will repurchase up to $1.1 billion worth of its shares. This authorization represents about 8% of the company's total market value. The repurchase program and the substantial increase in the quarterly cash dividend demonstrates the company’s confidence in its ongoing ability to generate significant amounts of cash after self-funding ... its growth and the other capital needs. The repurchase program is valid for two years and will expire in fiscal year 2014. As on May 23, 2013, the company announced to buy back a total of $550 million in common stock during fiscal 2013. Till February 2, 2013, the company has made no repurchases. As of April 28, 2013, the company has repurchased 2,300,000 shares for $138 million.
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