Trex Company announces $100M accelerated share repurchase program

Trex Company (TREX) announced an agreement to purchase approximately $100M of its outstanding common stock through an accelerated stock repurchase program with Wells Fargo Bank, National Association. The ASR is part of the company’s board-approved $150M share repurchase authorization. Under the ASR agreement, the company paid $100 million to Wells Fargo and expects to receive an initial delivery of approximately 1.9M shares of the company’s common