Avis Budget Group (CAR) Increases Buyback Plan By $250M
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Avis Budget Group Increases Its Stock Repurchase Program
November 14, 2016 9:00 AM ESTPARSIPPANY, N.J., Nov. 14, 2016 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced that its Board of Directors has increased the Companys share repurchase authorization by $250 million, giving the Company $400 million of available repurchase authorization from October 1 going forward.Â
Since August 2013, we have repurchased more than $1 billion of our common shares, said Larry De Shon, Avis Budget Group Chief Executive Officer. We remain committed to returning a portion of our cash flow to our shareholders through buybacks, while maintaining a prudent capital structure and flexibility to execute on our strategic initiatives.Â
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