Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 190

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 190
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ITEM  5.    MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information 

Our common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “MTZ.”

Holders.  As of February 24, 2025, there were 1,640 holders of record of our common stock.  In calculating the number of shareholders, we consider clearing agencies and security position listings as one shareholder for each agency or listing.

Dividends.  We have historically not paid cash dividends and do not currently anticipate paying a cash dividend.  We intend to retain future earnings for reinvestment.  Our Board of Directors will make any future determination as to the payment of dividends at its discretion, and this determination will depend upon our operating results, financial condition and capital requirements, general business conditions and such other factors that the Board of Directors considers relevant.

Issuer Purchases of Equity Securities.  The Company’s share repurchase programs, under which it undertakes share repurchases for strategic purposes, including (i) when management believes that the market price of the Company’s stock is undervalued; (ii) such repurchases will enhance long-term shareholder value; (iii) the Company has adequate liquidity; and (iv) management believes that such repurchases are appropriate uses of capital, do not have an expiration date and may be modified or suspended at any time at the Company’s discretion.  See Note 11 - Equity in the notes to the audited consolidated financial statements, which is incorporated by reference, for information pertaining to our share repurchase programs.  We did not have any share repurchases under our share repurchase programs for the year ended December 31, 2024.

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The following table provides information about repurchases of our common stock during the three month period ended December 31, 2024:

Total Number of Shares Purchased (a)Average Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced ProgramApproximate Dollar Value of Shares that May Yet be Purchased under the Program (b)October 1 through October 318,580 $125.82 — $77,326,434 November 1 through November 304,865 $130.35 — $77,326,434 December 1 through December 316,631 $140.56 — $77,