05:35 PM EST, 12/19/2024 (MT Newswires) -- Kroger ( KR ) said late Thursday that it agreed to $5 billion accelerated share repurchase deals with Wells Fargo Bank, National Association, and Citibank.

The buyback agreements are under the company's $7.5 billion share repurchase program and will be funded with existing cash at hand, Kroger ( KR ) added.

Under the agreements, Kroger ( KR ) will pay dealers $5 billion for an initial delivery of about 65.6 million shares on Dec. 20 and the final settlement no later than fiscal Q3.