AutoZone unveils $750M stock repurchase plan

Memphis, Tenn.-based AutoZone Inc. (NYSE: AZO) announced Wednesday it plans to buy back $750 million of its common stock as part of its long-standing share repurchase program.

The auto parts retailer has spent $14.9 billion repurchasing shares since 1998 when it first launched its program, according to the Memphis Business Journal.

AutoZone Inc. has spent $912 million buying back stock at an average price of $486 a share, according to the company’s fiscal third quarter report.

Read more from the Memphis Business Journal.