Architectural Services Company Apogee Boosts Shares Buyback Program By 2M Shares, Declares Dividend

Apogee Enterprises Inc APOG said its Board of Directors has increased the company's existing share repurchase authorization by 2 million shares.

The total available share repurchase program now is approximately 2.97 million shares.

The company said it will continue to evaluate future share repurchases, considering cash flow, debt levels, market conditions, and other capital allocation options.

The Board has also declared a quarterly cash dividend of $0.24 per share, payable on November 8, 2023, to shareholders of record at the close of business on October 24, 2023.

The company held $18.42 million in cash and equivalents as of August 26, 2023.

Apogee provides architectural products and services for enclosing buildings, and high-performance glass and acrylic products used for preservation, energy conservation, and enhanced viewing.

Price Action: APOG shares closed lower by 0.81% at $45.16 on Thursday.