MasTec Board Authorizes Stock-Repurchase Program

Posted by NAW Staff on November 07, 2011 No Comments
Categories : FYI

MasTec Inc. says its board of directors has authorized the repurchase of up to $75 million of MasTec common stock over the next 12 months.

Stock repurchases may be made from time to time, and the actual amount expended will depend on a variety of factors, including market conditions, regulatory and legal requirements, corporate cash generation and other factors, the company says. The stock repurchases may be made in both open-market and privately negotiated transactions, and may include the use of derivative contracts, structured share repurchase agreements and Rule 10b5-1 trading plans.

The authorization does not obligate MasTec to repurchase any particular amount of common stock during any period, and the program may be modified or suspended at any time at the company's discretion, MasTec notes.

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