PHILADELPHIA -- The Pep Boys announced that its board of directors approved a 12-month extension of its current share repurchase program. Share repurchases may continue to be made from time-to-time in the open market or in privately negotiated transactions.

Of the $100 million authorization announced on Sept. 9, 2004, authorization to purchase approximately $45 million of its outstanding common stock remains.

Pep Boys also announced that its board of directors approved the payment of the next quarterly dividend of $0.0675 per share payable on Oct. 24, 2005 to shareholders of record on Oct. 10, 2005. The annual dividend of $0.27 per share currently yields approximately 1.99 percent.

Pep Boys has 593 stores and more than 6,000 service bays in 36 states and Puerto Rico.

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