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AutoZone Boosts Buyback Program – AutoZone (NYSE:AZO) – Stocks to Watch
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AutoZone Boosts Buyback Program – AutoZone (NYSE:AZO)

ByShivani Kumaresan

Oct 5, 2022
AutoZone Boosts Buyback Program - AutoZone (NYSE:AZO)

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  • 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.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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