Atkore International OKS $75 million stock buyback program

HARVEY- Atkore International Group's board of directors has approved a share repurchase program, under which the company may repurchase up to $75 million of its outstanding common stock.

The company will conduct repurchases under the program in the open market and through broker negotiated purchases, subject to market conditions, applicable legal requirements, and other relevant factors. The share repurchase program will be funded from the company's available cash balances.

The program does not obligate the company to acquire any particular amount of common stock, and it may be terminated at any time at the company's discretion. As of Aug. 22, Atkore had 64.1 million shares of common stock outstanding.

"Our board of directors and senior management believe the company's shares are an attractive investment opportunity. The stock repurchase program is an accretive deployment of our strong balance sheet and demonstrates confidence in our businesses, strength in our growth strategy, and our commitment to delivering shareholder value," said John Williamson, Atkore President and Chief Executive Officer.