AutoZone OK’s $1 billion additional stock buyback


AutoZone Inc.

AZO, +0.20%

said late Wednesday its board of directors has authorized an additional $1 billion in the company’s stock buyback program. “AutoZone’s continued strong financial performance allows us to repurchase our stock while maintaining our investment-grade credit ratings,” Chief Financial Officer Bill Giles said in a statement. AutoZone shares rose 0.2% in the extended session after ending the regular trading day up 0.2% as well.

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