Hertz Global Authorized To Buy Back $2 Bln Of Shares

(RTTNews) - Hertz Global Holdings, Inc. (HTZ), car rental company, said on Wednesday that it has approved a new $2 billion share repurchase program.

Commenting on the repurchase, Stephen Scherr, chief executive said, "The increased authorization underscores the confidence that management and the board have in the direction of the Company."

The new authorization is in addition to the $2 billion buyback drive announced last year.

With around $0.2 billion remaining under the previous authorization, the company now has $2.2 billion shares available under the repurchase programs.