Advance Auto Parts Announces $1 Billion Increase to Share Repurchase Authorization, Increases Quarterly Cash Dividend and Updates Full Year 2021 Guidance
Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced that on April 19, 2021, its Board of Directors approved an additional share repurchase authorization of $1 billion, bringing the total available repurchase authorization to approximately $1.3 billion. In addition, the Board of Directors declared a quarterly cash dividend of $1.00 per share, an increase from $0.25. This dividend is payable July 2, 2021, to shareholders of record as of June 18, 2021.
"In recognition of our 2020 results, strong financial position and confidence in our ability to deliver additional
