Speedway OKs buybacks of 1M more shares

AP News
Posted: Dec 10, 2009 2:13 PM

Speedway Motorsports Inc. said Thursday its board authorized buybacks of up to 1 million shares, in addition to the 3 million it authorized earlier.

So far the Concord, N.C., company has bought back 2.5 million shares for about $65.3 million. The latest approval means Speedway has about 1.4 million shares still available for buybacks.

Speedway expects to make more purchases from time to time, depending on the market.

Speedway shares rose 7 cents to $15.85 in afternoon trading.