LKQ boosts stock repurchase program by $500 million

Shares of LKQ Corp. rose 0.5% in premarket trading Thursday, after the auto parts and accessories company said it added $500 million to its stock repurchase program. The company said that increased its repurchase program to $2.5 billion through Oct. 25, 2024. Since that plan was initiated in October 2018, LKQ said it has repurchased about $1.5 billion worth of its stock. The remaining authorization of about $1 billion represents about 7.25% of LKQ’s market capitalization of $13.80 billion as of Wednesday’s close. The stock has declined 18.7% year to date through Wednesday, while the S&P 500 has shed 17.4%.

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