Tuesday, August 16, 2011

AutoZone board approves $500M stock repurchase - Birmingham Business Journal:

pohevovotybuc.blogspot.com
The company’s board of directorsa approved the repurchase June 17 as part ofthe company’z ongoing share repurchase program, the company announced afte r the close of markets Wednesday. The last repurchase authorization was in Decembert and was asimilar $500 There were three $500 million authorizations in 2008 and a totakl of $7.9 billion since 1998. "Wew remain committed to utilizing share repurchasez within the bounds of a disciplined capital structure to enhance stockholder returns while maintainingf adequate liquidity to executeour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leading retailef and distributor of automotive replacement parts and accessories in the U.
S. The company sells auto and lighttruck parts, chemicalzs and accessories through 4,172 AutoZone stores in 48 the District of Columbia and Puerto Rico in the U.S. and 168 storeas in Mexico. Shares of AutoZone closed Wednesday at up 2.37 percent.

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