Less than a week after improved earnings, AutoZone returns cash to shareholders.
AutoZone (AZO) announced that its Board has authorized the repurchase of an additional $500 million of the Company’s common stock. Including the additional authorization, the cumulative share repurchase authorization approved by its Board since 1998 totals $6.9 billion.
AutoZone also announced that Luis P. Nieto was elected to the Company’s Board of Directors. Mr. Nieto is President, Consumer Foods for ConAgra Foods Inc., one of the largest packaged foods companies in North America. Prior to joining ConAgra, Mr. Nieto was President and Chief Executive Officer of the Federated Group, a leading private label supplier to the retail grocery and foodservice industries from 2002 to 2005.
Disclosure (“none” means no position):None
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