Albertson’S Plans Stock Repurchase

Albertson’s Inc. has adopted a new stock buyback program.

The company’s board of directors adopted the program last week. It authorizes Albertson’s to purchase and retire up to $500 million of the company’s common stock. The stock would have to be purchased before April 30, 2001.

The timing is right for such a program, said company Vice President Michael Read, because the low price of Albertson’s stock now makes it a good investment. Albertson’s stock closed on Monday at $32.38, down from $53 in July 1999.

Boise-based Albertson’s Inc. operates 2,500 stores in 37 states.