Aecom increases share repurchase authorization, quarterly dividend

AECOM announced that its Board of Directors has approved increases to both its share repurchase authorization to $1B and its quarterly dividend program by 22% to $0.22 per share. The increased share repurchase authorization builds on the $1.8 billion of shares repurchased since September 2020, which has reduced shares outstanding by 19%. “As today’s announcement demonstrates, we are committed to our returns-focused capital allocation policy, which is focused on high-returning investments in organic growth followed by returning substantially all available cash flow to shareholders through share repurchases and dividends,” said Troy Rudd, AECOM’s chief executive officer. “Under this policy, we have delivered highly profitable organic revenue growth, built a record design backlog, and returned $2 billion to shareholders since 2020, which has enhanced our total shareholder return. Our competitive advantages, combined with accelerating end market growth and our strong cash flow and balance sheet, underpin our confidence in long-term shareholder value creation.”