Patrick Industries (PATK) Increases Share Buyback by $100M
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Patrick Industries, Inc. Announces Increased Share Repurchase Authorization
February 1, 2022 8:00 AM ESTELKHART, Ind., Feb. 1, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) (the "Company") announced that on January 26, 2022, its Board of Directors (the "Board") authorized an increase in the amount of the Company's common stock that may be acquired over the next 24 months under the current stock repurchase program to $100.0 million, including the $11.0 million remaining under the previous authorization. In 2021, the Company repurchased 612,325 shares at an average price of $79.93 per share for a total cost of $48.9 million. Year-to-date through January 31, 2022, the Company repurchased 166,236 shares at an average price of $69.77 per share for a total cost of $11.6 million.
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