Granite announces $50 million accelerated share repurchase program

Watsonville, calif.--(business wire)--granite construction incorporated (nyse: gva) today announced that it has entered into an agreement to repurchase $50 million of its common stock in an accelerated share repurchase (“asr”) transaction with bank of montreal (“bmo”). granite is expected to fund the asr using available cash on hand. “this asr transaction is an important component of our capital allocation strategy,” said kyle larkin, granite president and chief executive officer. “the program
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