AutoZone (AZO) Authorizes $1.5 Billion In Stock Repurchases

By Dan Anderson ● Oct 6, 2021
  • AutoZone, Inc. (NYSE: AZO) recently announced its board authorized the repurchase of an additional $1.5 billion of common stock. These are the details.

AutoZone, Inc. (NYSE: AZO) recently announced its board authorized the repurchase of an additional $1.5 billion of common stock in connection with its ongoing share repurchase program. And since the inception of the repurchase program in 1998, and including the above amount, AutoZone’s Board of Directors has authorized $27.65 billion in share repurchases.

KEY QUOTE:

“AutoZone’s continued strong financial performance allows us to grow our business, return meaningful amounts of cash to our shareholders and maintain our investment grade credit ratings. We remain committed to our disciplined capital allocation policy to drive growth and enhance shareholder returns while maintaining adequate liquidity.”

— Jamere Jackson, Chief Financial Officer and Executive Vice President – Finance, and Store Development

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