Dycom Industries Authorizes New $150 Mln Share Repurchase Program

(RTTNews) - Dycom Industries Inc. (DY), a provider of specialty contracting services, on Wednesday announced that its Board of Directors has authorized a new $150 million share repurchase program.

The program allows the company to repurchase shares over the next 18 months through open-market purchases or privately negotiated transactions.

The new program replaces the company's previous $150 million buyback program, which had approximately $83.9 million remaining as of the announcement.

The company said the timing and amount of repurchases will depend on market conditions and other factors, and the program may be suspended or discontinued at any time.

In the pre-market trading, Dycom Industries is 0.35% higher at $353 on the New York Stock Exchange.