Acuity Brands Announces Stock Repurchase Authorization - Quick Facts

(RTTNews) - Acuity Brands, Inc. (AYI) announced, earlier the current week, its Board authorized the repurchase of up to 2 million shares, or approximately 5 percent, of the company's outstanding common stock. Under the current authorization, the company may acquire shares through open market transactions, subject to market conditions and other factors. The company may also enter into Rule 10b5-1 plans to facilitate open market repurchases.

Acuity Brands said the shares repurchased under the authorization may be retired or used for general corporate purposes, which may include transactions related to the company's share-based compensation and employee benefit plans.