LKQ Boosts Buyback Authorization
- LKQ Corp (NASDAQ:LKQ) Board of Directors has approved a $500 million increase to its existing stock buyback program.
- The move raises the aggregate program authorization to $2.5 billion through October 25, 2024.
- Since initiating the stock repurchase plan in October 2018, LKQ has repurchased 37.3 million shares through March 31, 2022, for $1.5 billion.
- The company is authorized to repurchase shares in the open market and privately negotiated transactions under the program.
- LKQ held $327 million in cash and equivalents as of March 31, 2022.
- Price Action: LKQ shares are trading higher by 1.08% at $49.21 on the last check Thursday.