ATLANTA — Acuity Brands announced it has completed the buyback of 2 million shares of the Company’s common stock under its previously authorized stock repurchase program. The repurchases represent a reduction of approximately 5 percent of the 44.1 million shares outstanding on March 30, 2017, as reported in the Company’s most recently filed Form 10-Q.
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, “The recent buyback of shares reflects our confidence in the Company’s future and its ability to continue to generate strong cash flow from operations. We believe that the repurchase of shares supports Acuity Brands’ objective to maximize long-term shareholder value, while continuing to fund investments to better serve our customers and grow our business, both organically and through acquisitions.”
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