- The Board of Directors of Astec Industries (NASDAQ:ASTE) authorizes $150M share repurchase program.
- Benjamin G. Brock, Chief Executive Officer, stated, “Today’s announcement that we have initiated a stock buyback program and increased the dividend reflects our confidence in the Company’s core business and our commitment to enhancing shareholder value. We believe Astec represents an attractive investment opportunity, and our strong balance sheet and cash flow clearly provide flexibility to return capital to shareholders at this time. Our Board and management will continue to make decisions we believe will support our long-term goals of increasing operational efficiency, reducing costs and improving profitability, enabling the Company to better serve its customers and allowing us to drive value for our shareholders.”
- Previously: Astec declares $0.11 dividend (July 30)