Lithia Motors Announces Two Million Share Repurchase Authorization
August 12 2011 - 1:58PM
Marketwired
Lithia Motors, Inc. (NYSE: LAD) today
announced that its board of directors authorized a program to
repurchase up to 2.0 million shares of the company's common stock.
Purchases may be made from time to time, based on market
conditions, legal requirements and other corporate considerations,
in the open market or in privately negotiated transactions. Lithia
has completed its previous 1.0 million share repurchase program
that had 416,776 shares remaining at June 30.
As of June 30, the company had 26.9 million shares of common
stock outstanding. Lithia expects that any repurchase of shares
will be funded by cash from operations, and intends to continue to
evaluate store acquisitions and internal investment as additional
uses of cash.
About Lithia Lithia Motors, Inc. is the
ninth largest automotive retailer in the United States. Lithia
sells 27 brands of new and all brands of used vehicles at 86
stores, which are located in 12 states. Lithia also sells used
vehicles; arranges finance, warranty, and credit insurance
contracts; and provides vehicle parts, maintenance, and repair
services at all of its locations.
For additional information on Lithia Motors, contact John North,
VP Finance and Controller at (541) 618-5748.
Sites www.lithia.com www.lithiacareers.com
www.assuredservice.com
Lithia Motors on Facebook
http://www.facebook.com/LithiaMotors
Lithia Motors on Twitter http://twitter.com/lithiamotors
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Contact: John North VP Finance and Controller (541) 618-5748
Lithia Motors (NYSE:LAD)
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