Atkore International To Buy Back Up To $75 Mln Shares - Quick Facts

(RTTNews) - Atkore International Group Inc. (ATKR), a manufacturer of Electrical Raceway products, announced Thursday that its Board of Directors has approved a share repurchase program of 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.

The program will be funded from the company's available cash balances. As of August 22, the company had 64.08 million shares of common stock outstanding.

John Williamson, Atkore President and Chief Executive Officer, said, "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."