Primoris Services Corporation (NASDAQ:PRIM) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On February28, 2017, Primoris Services Corporation, a Delaware
corporation (Primoris, the Company) issued a press release
announcing its financial performance for the year and fourth
quarter ended December31, 2016.
The information contained in the press release attached hereto is
being furnished and shall not be deemed filed for purposes of
Section18 of the Securities Exchange Act of 1934, as amended (the
Exchange Act), or otherwise subject to the liability of that
Section, and shall not be deemed incorporated by reference into
any registration statement or other document filed under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such
filing.
Item 8.01 Other Events.
Declaration of Cash Dividend to Stockholders
On February21, 2017, the Board of Directors declared a cash
dividend of $0.055 per common share for stockholders of record as
of March31, 2017, payable on or about April15, 2017.
Share Repurchase Plan
The Companys Board of Directors has authorized a share repurchase
program under which Primoris may, from time to time and depending
on market conditions, share price and other factors, acquire
shares of its common stock on the open market or in privately
negotiated transactions up to an aggregate purchase price of $5
million. The share repurchase program expires December31, 2017.
Primoris had 51,564,658 shares of common stock outstanding at
February28, 2017.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits .
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ExhibitNo. |
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Description |
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99.1 |
Press Release dated February28, 2017 |
About Primoris Services Corporation (NASDAQ:PRIM)
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment. The West segment includes underground and industrial operations, and construction services performed by ARB, Inc., ARB Structures, Inc., Rockford Corporation, Q3C and Vadnais. The East segment includes the JCG Heavy Civil division, the JCG Infrastructure and Maintenance division, BW Primoris and Cardinal Contractors, Inc. construction business. The Energy segment includes operations of the Primoris Energy Services (PES) pipeline and gas facility construction and maintenance operations, the JCG Industrial division, the Surber and Ram-Fab operations, and the Primoris Aevenia, Inc. (Aevenia) operations. Primoris Services Corporation (NASDAQ:PRIM) Recent Trading Information
Primoris Services Corporation (NASDAQ:PRIM) closed its last trading session down -0.63 at 24.86 with 576,387 shares trading hands.