Pet Smart announces increase in dividend

Pet Smart, a leading company in pet specialty retail, has announced the Board of Directors' approval to increase its quarterly dividend by 12 per cent from $ 0.125 to $ 0.14 per share beginning in the second quarter of fiscal 2011. The Board also authorized a new $ 450 mio share purchase programme. This is scheduled to commence on 1 August and continue until January 2013. The company emphasizes that it will replace any unused amount remaining under the June 2010 share purchase programme as of the commencement date.