Quanta Authorized Up To $1 Bln Buyback

(RTTNews) - Quanta Services, Inc. (PWR), a provider of infrastructure solutions for the electric and gas utility companies, Friday announced that it has been authorized to repurchase up to $1 billion of its outstanding common stock. Under the existing stock buyback program which expires on June 30, the company has already repurchased 540,788 shares of its outstanding common stock in the open market for a total cost of around $135 million.

Additionally, the company has declared a quarterly cash dividend of $0.11 per share payable on July 13, to stockholders of record as of July 1.

In pre-market activity, PWR shares were trading at $729, up 1.69% on the New York Stock Exchange.