Sterling Infrastructure (STRL) announced on Wednesday an up to $400M stock repurchase program, effective today.
Shares were +0.73% pre-market to $384.00.
The Texas-based e-infrastructure, transportation, and building solutions company may buy back outstanding common stock over the next 24 months under the new program.
The buybacks may be made from time to time through transactions in the open market, in privately negotiated transactions, or by other means.
The timing and amount of the repurchases will be at the discretion of management.
The new buyback program replaces the previous one, which was set to expire on December 5. There was $81M of remaining capacity under the previous program.