AutoZone board approves $500M stock repurchase - Jacksonville Business Journal:

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The company’s board of directors approved the repurchase June 17 as part ofthe company’ ongoing share repurchase program, the company announceds after the close of markets Wednesday. The last repurchasre authorization was in December and was asimilar $500 million. There were three $500 million authorizations in 2008 and a totaof $7.9 billion since 1998. "We remaib committed to utilizing share repurchaseas within the bounds of a disciplined capitao structure to enhance stockholder returns while maintaining adequate liquidity to executweour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leading retaile and distributor of automotive replacemenft parts and accessories in the U.
S. The companuy sells auto and light truck chemicals and accessoriesthrough 4,172 AutoZone store in 48 states, the District of Columbia and Puerto Rico in the U.S. and 168 stored in Mexico. Shares of AutoZone closed Wednesday at up 2.37 percent.