(RTTNews) - While reporting financial results for the second quarter on Friday, discount retailer Big Lots, Inc. (BIG) said it is not in a position to re-instate its financial guidance for the full-year 2020 as it continues to believe it does not have sufficient visibility amidst the ongoing COVID-19 pandemic.
Separately, the company's the Board of Directors declared a quarterly cash dividend of $0.30 per common share, payable on September 25, 2020, to shareholders of record as of the close of business on September 11, 2020.
The company's Board of Directors also authorized the repurchase of up to $500 million of the company's outstanding common shares.
In late March, the company had withdrawn its financial guidance for the first quarter and full year 2020, given the lack of business visibility related to the pandemic.
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