Dycom Industries (DY) Reports New $100M Share Buyback Authorization

Dycom Industries, Inc. (NYSE: DY) today announced that its Board of Directors has authorized a new $100 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. As of August 26, 2020, the Company had 31,839,247 shares of common stock outstanding, excluding the dilutive effect of stock options and unvested restricted stock.

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