Dycom Industries Inc. (NYSE: DY) said on Wednesday it has authorized a new $150 million share repurchase program, effective for up to 18 months.
The program allows for open market purchases or privately negotiated transactions, including operations conducted under a Rule 10b5-1 plan. The authorization replaces a prior $150 million buyback program, of which approximately $83.9 million remained available as of the most recent update.
As of August 24, Dycom reported 30,160,957 shares of common stock outstanding, excluding the dilutive effect of stock options and unvested restricted stock. The company specializes in specialized contracting services for telecommunications and utility infrastructure in the United States, including program management, engineering, construction, maintenance, and installation for telecom providers and data centers, as well as services for electric and gas utilities.
Headquartered in West Palm Beach, Florida, Dycom operates primarily in the U.S. market.
