Concrete Pumping shares were up after the company raised its full-year outlook and initiated its first quarterly dividend.

The stock rose 14% to $10.32 in after-hours trading Thursday. Through the close, shares were up 31% this year.

The concrete transportation and waste management company now expects annual revenue to be $425 million to $435 million, up from its previous guidance of $410 million to $425 million.

Revenue in the fiscal third quarter rose 13% to $116.8 million.

Profit was $4.5 million, or 9 cents a share, compared with $3.3 million, or 7 cents a share, in the year-ago quarter.

Demand for large-scale commercial and infrastructure projects, particularly data centers, remained healthy during the quarter, Chief Executive Bruce Young said.

Concrete Pumping also initiated a quarterly dividend, which Young said reflected management's confidence in the company's ability to generate consistent cash flow while investing in operations.

The quarterly cash dividend is 13 cents a share, totaling 52 cents over a full year.

The company extended the expiration date for its existing share buyback program from Dec. 31 of this year to Nov. 30, 2028. As of the end of July, there was about $11.9 million available under the buyback program.