Dow’s board OKs $3 billion share buyback program, dividend

Dow Inc. said late Wednesday its board has authorized a new $3 billion share buyback program and declared a dividend of 70 cents a share. The dividend is payable on June 10 to shareholders of record on May 31, the industrials company said. The share repurchase program does not have an expiration date and is in addition to Dow’s current program, which has about $775 million of authorization remaining. Dow shares rose 0.8% in the extended session Wednesday after ending the regular trading day up 1.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.