Key Developments: Carmax Inc (KMX)
20 May 2013
Latest Key Developments (Source: Significant Developments)
Carmax Inc announced that Board of Directors has approved a $500 million extension of its existing share repurchase program for the Company's outstanding common stock. This extension is in addition to the previously announced $300 million repurchase authorization approved by the Board on October 17, 2012. This $500 million authorization expires on December 31, 2014.Purchases under the repurchase program may be made in open market or privately negotiated transactions and are expected to comply with Securities and Exchange Commission Rule 10b-18. Purchases will be made from time to time at CarMax`s discretion and the timing and amount of any share repurchases will be determined based on share price, market conditions, legal requirements and other factors. The share repurchase program does not obligate CarMax, Inc. to acquire any particular amount of common stock, and it may be suspended or discontinued at any time. Any shares repurchased under the program will be deemed authorized but unissued shares of common stock. Full Article
Carmax Inc announced that its Board of Directors has approved a share repurchase program for up to $300 million of the Company’s outstanding common stock. The share repurchase authorization is effective immediately and expires on December 31, 2013. Full Article
- CarMax Inc , the largest retailer of used cars in the United States, reported a 13 percent higher fourth-quarter profit, but comparable used-car sales grew at a slower pace than the previous quarter.