Friday, August 10, 2012

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

exceeding-commissioner.blogspot.com
The company’s board of directorws approved the repurchase June 17 as part ofthe company’e ongoing share repurchase program, the company announced after the close of marketss Wednesday. The last repurchase authorization was in Decembeer and was asimilar $500 There were three $500 million authorizations in 2008 and a total of $7.9 billion since 1998. "We remaibn committed to utilizing share repurchaseas within the bounds of a disciplinecd capital structure to enhance stockholde returns while maintaining adequate liquidity to executedour plans,” said CFO Bill Giles.
Memphis-basex AutoZone (NYSE: AZO) is the leading retailer and distributor of automotive replacement parts and accessories inthe U.S. The compant sells auto and lighttrucj parts, chemicals and accessories through 4,173 AutoZone stores in 48 states, the District of Columbia and Puertl Rico in the U.S. and 168 stores in Shares of AutoZone closed Wednesday at up 2.37 percent.

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