HOUSTON — Comfort Systems USA Inc., a leading provider of commercial, industrial, and institutional HVAC services, announced that its board of directors has approved an amendment to the company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1 million shares by authorizing the company to acquire up to 551,310 additional shares of its outstanding common stock. The company’s existing stock repurchase program had previously authorized the repurchase of up to 7,561,183 shares of the company’s outstanding common stock.
Through Aug. 11, 2016, the company repurchased 7,112,493 shares of its common stock at an aggregate price of $89,204,333. This extension of the stock repurchase program will “top off” the plan and permit the company to repurchase up to an additional 1 million shares of its currently outstanding common stock beyond what had already been purchased as of Aug. 11, 2016.
The share repurchases will be made from time to time at the company’s discretion in the open market or privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. Comfort Systems expects that the share repurchases will be financed with available cash. The board of directors may modify, suspend, extend, or terminate the program at any time.
Comfort Systems USA provides workplace comfort from 91 locations in 84 cities around the nation. For more information, visit www.comfortsystemsusa.com.
Publication date: 8/29/2016