Dycom Announces New $150 Mln Stock Repurchase Plan, Stock Up In Pre-market

(RTTNews) - Dycom Industries, Inc. (DY), a provider of specialty contracting services, Wednesday announced that the Board has authorized a new $150 million program to repurchase shares of outstanding stock.

Shares of Dycom are increasing in the pre-market trading.

The new program replaces the previous $150 million stock buyback plan, which had around $55 million remaining.

The company had 28,979,138 outstanding shares as of February 25, excluding the dilutive effect of stock options and unvested restricted stock.

In the pre-market trading, Dycom is 3.58% higher at $178.09 on the New York Stock Exchange.