Builders FirstSource (BLDR) announced its board of directors authorized the repurchase of up to $500M of the company’s outstanding shares of common stock, which includes the approximately $100M remaining under its prior August 2024 authorization. Since the inception of its buyback program in August 2021 through April 30, the company has repurchased 99.3M shares of its common stock, or 48.1% of its total shares outstanding, at an average price of $80.90 per share for a total cost of $8.0 billion, inclusive of applicable fees and taxes.
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