AutoZone Replenishes Buyback Bucket – MarketWatch
By Robert Barba
The board of car parts retailer AutoZone Inc. has increased the company’s buyback program by $2 billion, roughly three months after another big authorization.
In mid-December, the board authorized the company to buy back $1.5 billion of its stock. In its recent quarterly securities filing, the company said it had $957.6 million remaining as of Feb. 12, the end of its second fiscal quarter.
It added that it had repurchased roughly 120,000 shares between Feb. 12 and March 11 for an aggregate cost of $226.9 million.
With Tuesday’s addition, the company said its board has authorized the company to buy back $31.2 billion worth of stock since 1998.
Write to Robert Barba at [email protected]