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AutoZone Approves Repurchase Of Addl $1 Bln Of Common Stock

AutoZone Inc. (AZO) said that its board authorized the repurchase of an additional $1 billion of the Company's common stock in connection with its ongoing share repurchase program.

AutoZone said its board has authorized $21.9 billion in share repurchases, since the inception of the repurchase program in 1998, and including the above amount.

"AutoZone's continued strong financial performance allows us to repurchase our stock while maintaining our investment grade credit ratings," said Bill Giles, Chief Financial Officer and Executive Vice President - Finance, Information Technology, and Store Development.

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