AutoZone, Inc.'s Board of Directors has authorized the repurchase of an additional $2.0 billion of AutoZone's common stock
AutoZone, Inc. (AZO), a retailer in the automotive industry, has recently made an announcement regarding its ongoing share repurchase program. The company's Board of Directors has authorized the repurchase of an additional $2.0 billion of AutoZone's common stock.
AutoZone's Board of Directors has been actively engaged in a share repurchase program since 1998. With the latest authorization of $2.0 billion, the total amount authorized for share repurchases now stands at an impressive $35.7 billion.
Jamere Jackson, AutoZone's Chief Financial Officer and Executive Vice President – Finance and Store Development, expressed enthusiasm about the company's ability to grow its business while simultaneously providing returns to shareholders. By adhering to a disciplined capital allocation policy, AutoZone aims to optimize growth opportunities while maintaining investment-grade credit ratings.
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