Key Developments: Carmax Inc (KMX)
26 Dec 2014
Latest Key Developments (Source: Significant Developments)
Carmax Inc:Approves a $2 bln expansion of the company's share repurchase program, for an aggregate share repurchase authorization of $3.8 bln since the initial announcement of the program in Oct. 2012.As of Aug. 31, the company had made $893 mln of repurchases under the program.Says expanded authorization is effective immediately and expires on Dec. 31, 2016. Full Article
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 , the largest U.S. used-car seller, reported a 16 percent rise in quarterly revenue as easier availability of credit helped it sell more pre-owned vehicles at higher prices.