Dycom Industries Announces New $100 Million Share Repurchase Program
On August 26, Dycom Industries, Inc. (DY) announced that its Board of Directors authorized a new share repurchase program for up to $100 million in common stock. Under the terms of the agreement, Dycom may repurchase stock any time over the next 18 months. Dycom is a leading provider of telecom contracting services in the United States.
Sonal sent an alert to its subscribers about the news event at 6:02 am. The next trade was at 6:05 am for $48.01. The stock price spiked higher at the market open, but the gains continued over the next five trading days. Dycom closed at $63.96 on September 1 with a five-day gain of 33.2%.
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