Valvoline rises after stock buyback boosted to $500 million
VVV•Valvoline increased its share repurchase authorization by $175 million to $500 million. The company expects to resume repurchases after releasing its fiscal-year results, and the authorization has no expiration date.
1. Repurchase authorization increased
Valvoline shares rose 3.7% in early trading after the auto service provider increased its share repurchase authorization by $175 million to $500 million. The company said it expects to resume repurchases following the release of its fiscal-year results; the authorization has no expiration date.
