AutoZone: further share buybacks authorised

(CercleFinance.com) - On Wednesday evening AutoZone announced that its Board of Directors has authorised the repurchase of an additional $2bn worth of shares, as part of its ongoing share repurchase program.


Since the repurchase program was launched in 1998, and including the newly authorised amount, the automotive equipment distributor's Board of Directors has authorised total share repurchases of $37.7bn.

AutoZone's continued ability to generate strong free cash flow enables it to increase its cumulative authorisation while maintaining its investment grade credit ratings, management said.


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