Dycom Industries (DY) Adds $40M to Common Stock Buyback Plan

Dycom Industries (NYSE: DY) announced that its Board of Directors has authorized an additional $40 million to repurchase shares of Dycom's outstanding common stock. The stock repurchases 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. The Company has substantially completed its previously authorized share repurchases having bought $39.3 million of shares out of the previously authorized $40 million. As of June 30, 2015, the Company had approximately 33.8 million shares of common stock outstanding, excluding the dilutive effect of stock options and unvested restricted stock.

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