Office Depot higher after unveiling changes

• The changes at Office Depot (NYSE:ODP) include the return of a quarterly dividend ($0.025/share) and a plan to close over 300 additional stores.
• The store closings represent just under 20% of the total stores the company had open at the end of Q2.
• Office Depot also increased its share buyback allowance to $250M from $100M.
• Previously: Office Depot misses by $0.03, beats on revenue (Aug. 3)
• Previously: Office Depot discloses three-year plan (Aug. 3)
• Shares of ODP are up 3.95% premarket to $3.42.