Dycom Industries Inc. (NYSE: DY) said its board authorized a $150 million share buyback program, effective over the next 18 months.
The new program replaces Dycom’s prior $150 million repurchase authorization, which had approximately $83.9 million remaining as of the announcement. The company said purchases may be made on the open market or through privately negotiated transactions, including under a Rule 10b5-1 trading plan.
As of the latest disclosure, Dycom had 30,160,957 shares of common stock outstanding, excluding the dilutive impact of stock options and unvested restricted stock. The company provides specialty contracting services to U.S. telecommunications and utility sectors, including program management, engineering, aerial and underground construction, and electrical contracting for data centers.
Dycom did not specify a timeline for initiating the buybacks or provide further details on allocation or execution strategy.
