O’Reilly Automotive raises share buyback program by $1.5 billion

O’Reilly Automotive Inc.’s
ORLY,
+0.02%
board of directors has increased its share-repurchase program by $1.5 billion.

This raises the company’s total authorization under the program to $21.75 billion, the company said in a Tuesday filing with the Securities and Exchange Commission.

The additional $1.5 billion authorization is effective for a three-year period, beginning Tuesday.