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Argan, Inc. Announces Increase to Share Repurchase Program, Declares Regular Quarterly Cash Dividend of $0.50 Per Common Share

AGX
  • Argan's Board approved increasing its share repurchase program authorization from $150 million to $200 million.
  • The share repurchase program expiration date was extended to January 31, 2030.
  • The Board declared a regular quarterly cash dividend of $0.50 per common share.
  • The dividend will be payable on April 30, 2026, to stockholders of record as of April 22, 2026.
  • CEO David Watson cited strong cash generation, a robust balance sheet, & high demand as drivers for the increased buyback authorization.
  • Argan focuses on engineering, procurement, & construction for natural gas-fired power plants, renewable energy facilities, & related services via its Gemma Power Systems & Atlantic Projects Company operations.
  • The company also owns The Roberts Company for industrial construction & SMC Infrastructure Solutions for teledata infrastructure services.
  • The press release includes standard forward-looking statement disclaimers regarding risks such as contract acquisition & project completion.