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Dycom Industries, Inc. Announces Completion Of Existing Stock Repurchase Program And Authorization Of A New $100 Million Stock Repurchase Program

DY, +0.57% announced today that it has exhausted its previously authorized $100 million stock repurchase program. Under this program, the Company repurchased a total of 1,557,354 shares of its common stock in open market transactions during the third quarter of fiscal 2016. These shares were repurchased at an average price of $64.21 per share. On April 26, 2016, the Company's Board of Directors authorized a new $100 million stock repurchase program. Repurchases under the new program are authorized to be made over the next eighteen (18) months in open market or private transactions, including through accelerated share repurchase agreements with one or more counterparties from time to time. The exact timing and amount of repurchases will depend on market conditions and other factors. As of April 25, 2016, the Company had 31,342,313 shares of common stock...