O’Reilly Automotive announced that its board of directors approved a resolution to increase the authorization amount under its share repurchase program by an additional $750 million, raising the aggregate authorization under the program to $7 billion.
The additional $750 million authorization is effective for a three-year period, which took effect on May 27. Stock repurchases under the program may be made from time to time, as the company deems appropriate, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of factors such as price, corporate requirements and overall market conditions. There can be no assurance as to the number of shares the company will purchase, if any.
