Autozone board authorizes $500M stock buybacks

AP News
Posted: Dec 16, 2009 7:32 PM

Autozone Inc., which sells car and truck parts and accessories, said Wednesday its board approved an additional $500 million in share buybacks as part of its ongoing repurchase program.

The Memphis, Tenn.-based company said that since 1998, it has approved buybacks worth $8.4 billion, including the latest allocation.

Shares of Autozone rose 67 cents to $158.66 in after-hours trading Wednesday after closing at $157.99, up $1.08 from a day earlier.