Tutor Perini Corp. said late Tuesday that its board has extended through March 31 the company’s program to repurchase up to $100 million of its common stock.
The Sylmar construction company said that as of Nov. 24 it had repurchased 2 million shares at an aggregate cost of $31.8 million. The company expects to use cash on hand for future stock purchases.
As of Oct. 31, the company had about 48.5 million shares of common stock outstanding.
Shares were up $1.24, or 7.5 percent, to $17.74 in midday trading Wednesday on the New York Stock Exchange.
