Asbury Automotive raises stock repurchase authorization to $400M

Asbury Automotive Group announced its board of directors approved an increase in the authorization of the share repurchase plan for the Company, which expands the remaining availability to $400M. “This expansion of our previous authorization reflects the commitment to our disciplined capital allocation approach,” said David Hult, Asbury’s President and Chief Executive Officer. “The expanded buyback program gives us confidence in the execution of our strategy and the outlook for our business. With our strong cash flow and balance sheet, we believe we can deliver the best returns for our shareholders over the long-term.”