Le Lézard
Classified in: Science and technology, Covid-19 virus

Dycom Announces Authorization of a New $150 Million Stock Repurchase Program


PALM BEACH GARDENS, Fla., March 3, 2021 /PRNewswire/ -- Dycom Industries, Inc. (NYSE: DY) today announced that its Board of Directors has authorized a new $150 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 March 2, 2021, the Company had 30,615,908 shares of common stock outstanding, excluding the dilutive effect of stock options and unvested restricted stock.

About Dycom Industries, Inc.
Dycom is a leading provider of specialty contracting services throughout the United States. These services include program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. For more information, visit https://dycomind.com.

Forward Looking Information
This press release contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. These statements are subject to change. Forward looking statements are based on management's current expectations, estimates and projections. These statements are subject to risks and uncertainties that may cause actual results for completed periods and periods in the future to differ materially from the results projected or implied in any forward-looking statements contained in this press release. The most significant of these risks and uncertainties are described in the Company's Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) and include the projected impact of COVID-19 on the Company's business operating results, cash flows and/or financial condition and the impacts of the measures the Company has taken in response to COVID-19, the Company's ability to effectively execute its business and capital plans, business and economic conditions and trends in the telecommunications industry affecting the Company's customers, customer capital budgets and spending priorities, the adequacy of the Company's insurance and other reserves and allowances for doubtful accounts, whether the carrying value of the Company's assets may be impaired, preliminary purchase price allocations of acquired businesses, expected benefits and synergies of acquisitions, the future impact of any acquisitions or dispositions, adjustments and cancellations of the Company's projects, the related impact to the Company's backlog from project cancellations, weather conditions, the anticipated outcome of other contingent events, including litigation, liquidity and other financial needs, the availability of financing, the Company's ability to generate sufficient cash to service its indebtedness, restrictions imposed by the Company's credit agreement, and the other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking statements.

SOURCE Dycom Industries, Inc.


These press releases may also interest you

at 06:00
ProntoForms Corporation , the global leader in field-focused low-code application platforms for enterprise, highlighted today two multi-billion-dollar energy organizations that use ProntoForms' platform to drive business value. The customers...

at 05:43
Despite the prolonged COVID-19 pandemic, HKBN Ltd. ("HKBN" or the "Company"; SEHK stock code: 1310) today announced solid operational and financial growth results for the six months ended 28 February 2021 ("1H2021"). Through a series of mergers and...

at 05:35
EdiGene, Inc. ("Company", or "EdiGene"), today announced the successful completion of an RMB 400 million (approximately USD 62 million) Series B Plus financing. Loyal Valley Capital led the round and other new investors included BioTrack Capital and...

at 05:23
ESP32 is a popular low-power system on chip microcontrollers with integrated Wi-Fi and dual-mode Bluetooth, making it suitable for designing and prototyping IoT solutions. At its heart, there is a dual-core or single-core Tensilica Xtensa LX6...

at 05:15
Signature Bank , a New York-based full-service commercial bank, today announced results for its first quarter ended March 31, 2021. Net income for the 2021 first quarter was $190.5 million, or $3.24 diluted earnings per share, versus $99.6 million,...

at 05:15
Paysafe , a leading specialised payments platform, today announces its carbon neutral company status for 2021 and 2022. The milestone forms part of the company's ongoing commitment to offsetting its unavoidable carbon emissions as part of its...



News published on 3 march 2021 at 06:05 and distributed by: