AutoZone Adopts $2B Additional Share Buyback Program

• AutoZone Inc (NYSE:AZO) said its Board of Directors authorized the repurchase of an additional $2.0 billion of its common stock.
• The company had $958 million remaining under its current share repurchase authorization at the end of the second quarter.
• The company held $239.4 million in cash and equivalents as of February 12, 2022.
• AutoZone's Board has approved $31.2 billion in share repurchases since the inception of its repurchase program in 1998.
• AutoZone is an automotive replacement parts and accessories retailer and distributor with 6,091 stores in the U.S.
• Price Action: AZO shares closed higher by 0.40% at $1,946.39 on Tuesday.