Press release
LKQ Corporation Announces 10% Increase to its Quarterly Dividend and $1 Billion Increase to its Stock Repurchase Program (aggregate authorization now $3.5 Billion through October 2025)
CHICAGO, Oct. 27, 2022 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today announced that its Board of Directors has declared a quarterly cash dividend of
About this update from Lkq Corporation
[{"type":"text","content":"CHICAGO, Oct. 27, 2022 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today announced that its Board of Directors has declared a quarterly cash dividend of $0.275 per share of common stock, payable on December 1, 2022, to stockholders of record at the close of business on November 17, 2022. This reflects a 10% increase over the prior quarterly dividend of $0.25 per share. Additionally, on October 25, 2022, the Company’s Board of Directors authorized a $1 billion increase and one-year extension to its stock repurchase program, raising the aggregate authorization under the program to $3.5 billion and authorizing repurchases through October 25, 2025. Since initiating its stock repurchase plan in October 2018, the Company has invested $2.2 billion to repurchase 52 million shares of its common stock through September 30, 2022. Under the repurchase program, the Company is authorized to repurchase shares in the open market as well as in privately negotiated transactions. The timing and the amount of any repurchases of common stock will be determined by LKQ management based on its evaluation of market conditions and other factors. The repurchase program will be effected in compliance with SEC Rule 10b-18 and other applicable legal requirements. The repurchase program does not obligate the Company to acquire any specific number of shares and may be suspended or discontinued at any time. Stock purchased as part of this program will be held as treasury stock upon repurchase. About LKQ Corporation LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles. Forward Looking Statements Statements and information in this press release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made pursuant to the “safe harbor” provisions of such Act. Forward-looking statements include, but are not limited to, statements regarding our outlook, guidance, expectations, beliefs, hopes, intentions and strat...