Aegion Corp. (AEGN) said Monday that its Board of Directors has authorized a new program to repurchase up to $10.0 million of the company's common stock during the balance of the 2013 calendar year.
Through previous share repurchase programs completed in 2011, 2012 and 2013, the company repurchased about 1.13 million shares of its common stock for $20.0 million, or an average price of $17.69 per share.
J. Joseph Burgess, President and Chief Executive Officer of Aegion, said, "This share repurchase program reflects our continued commitment to utilize excess cash to enhance stockholder value, providing the Company an opportunity to repurchase shares at prices we continue believe are attractive."
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