Grocery chain Kroger’s board approves new $500 million share buyback program


The Kroger Co.

KR, -0.34%

said Thursday its board has approved a new $500 million share buyback program. The new authorization will add to the $120 million remaining in the last program as of March 8. Shares were flat Thursday, but are down 23% in the last 12 months, while the S&P 500

SPX, +0.11%

has gained 19%.