AutoZone authorizes repurchase of additional $1.5B of common stock

AutoZone announced its board of directors authorized the repurchase of an additional $1.5B of the company’s common stock in connection with its ongoing share repurchase program. Since the inception of the repurchase program in 1998, and including the above amount, AutoZone’s Board of Directors has authorized $39.2B in share repurchases. “AutoZone’s continuing ability to generate strong free cash flow allows us to increase our cumulative share authorization while maintaining our investment grade credit ratings. We remain committed to our disciplined capital allocation policy to drive growth while maintaining adequate liquidity,” said Jamere Jackson, Chief Financial Officer.