PALM BEACH GARDENS, Fla., March 02, 2022 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY) today announced that its Board of Directors has authorized a new $150 million program to repurchase shares of Dycom’s outstanding common stock. Repurchases under the new program are authorized to be made over the next eighteen (18) months in open market purchases or privately-negotiated transactions, including pursuant to a Rule 10b5-1 plan. The exact timing and amount of repurchases will depend on market conditions and other factors. The repurchase program does not obligate Dycom to acquire any particular amount of common stock, and may be suspended or discontinued at any time. The new program replaces the Company’s previous $150 million stock repurchase program of which approximately $43.9 million remained outstanding. As of March 2, 2022, the Company had 29,613,477 shares of common stock outstanding, excluding the dilutive effect of stock options and unvested restricted stock.
Dycom Announces Authorization of a New $150 Million Stock Repurchase Program
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