AutoZone Boosts Buyback Program - AutoZone (NYSE:AZO)

  • AutoZone Inc AZO Board of Directors authorized the repurchase of an additional $2.5 billion in shares in connection with its ongoing share repurchase program.
  • At the fiscal year ending August, the company had $1.058 billion remaining under its share repurchase authorization.
  • Since the inception of the repurchase program in 1998, the company’s total authorization amounts to $33.7 billion.
  • The company held $264.4 million in cash and equivalents as of August 27, 2022.
  • “Our strong financial performance allows us to grow our business, return meaningful amounts of cash to our shareholders and maintain our investment grade credit ratings,” said CFO Jamere Jackson.
  • AutoZone had 6,168 stores in the U.S., 703 in Mexico, and 72 in Brazil, for a total store count of 6,943 as of August 27, 2022.
  • Price Action: AZO shares are trading lower by 0.23% at $2,200 in premarket on the last check Wednesday.

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