LAKE FOREST, Calif., May 20, 2009 (GLOBE NEWSWIRE) -- Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMU) (Nasdaq:PRIMW) ("Primoris" or "Company"), one of the largest specialty contractors and engineering companies in the United States, today announced that its Board of Directors has declared a $0.025 per share cash dividend to stockholders of record as of June 30, 2009, payable on July 15, 2009.
The Company also announced that it repurchased 188,500 common stock purchase warrants ("warrants") at a total cost of $93,759 under a previously announced Rule 10b5-1 trading plan with CJS Securities, Inc. The warrants, which were repurchased during the period March 27, 2009 through May 15, 2009, will be retired. Following the completion of the repurchase plan, approximately 4.7 million warrants remain issued and outstanding. Each warrant entitles the holder to purchase one share of the Company's common stock at a price of $5.00 per share and is exercisable at any time on or prior to October 2, 2010, unless earlier redeemed.
About Primoris
Primoris, through various subsidiaries, is one of the largest specialty contractors and engineering companies in the United States, primarily serving the growing power and energy sectors. Primoris provides a wide range of construction, fabrication, maintenance and replacement services, as well as engineering services to major public utilities, petrochemical companies, energy companies, municipalities and other customers. Primoris is also a leading water and wastewater contractor in the state of Florida, and a specialist in designing and constructing complex commercial and industrial concrete structures in California. For additional information on Primoris, please visit www.primoriscorp.com.
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