- Patrick Industries ( NASDAQ: PATK ) has announced a boost in its share repurchase authorization.
- The board authorized an increase in the amount of the company's common stock that may be acquired over the next 24 months under the current stock repurchase program to $100M, including the $38.2M remaining under the previous authorization.
- CEO Andy Nemeth said, "The decision to increase our share repurchase authorization combined with the recent increase in our quarterly dividend reflects our confidence in our capital allocation strategy and ability to generate free cash flow. We stand ready to meet market conditions as they develop and continue to be optimistic about our long-term growth potential and our ability to drive shareholder value."
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Patrick Industries boosts share buyback plan