O'Reilly Automotive Raises Share Buyback Program by $500 Million
O'Reilly Automotive is attempting to put some turbo into its stock with an expansion of its existing repurchase program. The company's board has authorized an enlargement of the initiative by $500 million, bringing its total amount to $3.5 billion. The additional half-billion is in force for a period of three years, effective immediately.
The company's stock buys will be effected through open market purchases through a broker-dealer. It cautioned that the program could be modified or suspended at any time without prior notice.
At the moment, O'Reilly Automotive's market capitalization stands at roughly $12.2 billion.
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