The board of directors of Aegion Corp. authorized a new program to repurchase up to $5 million of the company’s stock during the 2013 calendar year.
Aegion repurchased 908,725 shares of the company’s stock for $15 million, or an average price of $16.51 per share, through previous share repurchasing programs initiated in 2011 and 2012.
On Nov. 2, Aegion executed an amendment to its credit facility to allow for the additional $5 million repurchase in the fourth quarter of 2012. The company previously repurchased $5 million of its common stock in the third quarter of 2011 at a weighted average of $15.34 a share and $5 million of its common stock in the first quarter of 2012 at a weighted average of $16.13 per share. Read more on St. Louis Business Journal.