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Stock Market & Financial Investment News

News Breaks
November 8, 2012
13:33 EDTMYRGMYR Group upgraded to Buy from Hold at KeyBanc
News For MYRG From The Last 14 Days
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February 10, 2016
08:07 EDTMYRGMYR says Engine Capital demanded company appoint 2 nominees to board
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08:06 EDTMYRGMYR Group has been in talks with Engine Capital, offered to add one director
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08:05 EDTMYRGMYR Group says to enter into various alternative financing arrangements
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08:05 EDTMYRGMYR Group announces $75M increase to share repurchase program
MYR Group announced that its Board of Directors has authorized an increase to its existing share repurchase program from $67.5M to $142.5M. In addition to increasing the size of the program, the MYR Group Board has approved provisions designed to accelerate the pace of share repurchases, increase flexibility for repurchases by raising per share pricing thresholds, and has extended the program through April 30, 2017. As part of the capital review, the Board has also approved new financing strategies to support the Company's equipment needs. The MYR Group Board regularly reviews the Company's business and capital allocation to ensure MYR Group is best positioned for growth and value creation. The decision to increase the size and pace of the Company's share repurchase authorization and implement new financing strategies follows such review conducted by the Board with the assistance of outside financial advisors as well as discussions with MYR Group shareholders. After considering a range of capital return options, the Board determined that the $75M increase in the share repurchase program and additional provisions designed to accelerate the pace of the program is optimal as it provides a meaningful return of capital to shareholders, while at the same time preserving the Company's financial flexibility and strength to grow.

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