O'Reilly Automotive Raises Share Buyback Program by $500 Million

O'Reilly Automotive (NASDAQ: ORLY  ) 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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