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BRIEF-Fred’s Announces Cancellation Of Dividend, Review Of Alternatives For Certain Non-Core Assets
December 6, 2017 / 12:18 PM / 10 days ago

BRIEF-Fred’s Announces Cancellation Of Dividend, Review Of Alternatives For Certain Non-Core Assets

Dec 6 (Reuters) - Fred’s Inc:

* FRED’S INC. ANNOUNCES THE CANCELLATION OF THE DIVIDEND, AN UPDATE TO THE SHARE REPURCHASE PROGRAM AND A REVIEW OF ALTERNATIVES FOR CERTAIN NON-CORE ASSETS

* FRED‘S INC - ‍IN CONNECTION WITH CANCELLATION OF DIVIDEND BOARD HAS AMENDED COMPANY‘S PREVIOUSLY DISCLOSED 2012 STOCK REPURCHASE PROGRAM​

* FRED‘S INC - CANCELED QUARTERLY CASH DIVIDEND IN ORDER TO RETAIN FREE CASH FLOW FOR DEBT REDUCTIONS, SHARE REPURCHASES & GENERAL CORPORATE PURPOSES

* FRED‘S INC - ‍AMENDED STOCK REPURCHASE PROGRAM WILL ALLOW FOR REPURCHASE OF UP TO 3.8 MILLION SHARES OF COMPANY‘S OUTSTANDING CLASS A VOTING COMMON STOCK​

* FRED‘S - CONSIDERING STRATEGIC ALTERNATIVES FOR SOME NON-CORE ASSETS, INCLUDING REAL ESTATE, SPECIALTY PHARMACY BUSINESS

* FRED‘S INC - DECISION TO EXPLORE STRATEGIC ALTERNATIVES IS NOT IN RESPONSE TO ANY THIRD PARTY PROPOSAL

* FRED‘S - ‍AMENDED REPURCHASE PROGRAM VALID FOR UP TO 2 YRS, CO TO FINANCE REPURCHASES WITH CASH, FUNDS DRAWN FROM CREDIT AGREEMENT DATED APRIL 9, 2015​ Source text for Eikon: Further company coverage:

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