Dycom Industries (DY) said Wednesday its board has authorized a new $150 million stock repurchase plan.
Repurchases under the new program can be made over the next 18 months via open market purchases or privately-negotiated transactions, the company said. The exact timing and amount of repurchases will depend on market conditions and other factors.
The new program replaces the company's previous $150 million stock repurchase program, of which approximately $55 million remained outstanding.
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