Patrick Industries, Inc. Announces New $50 Million Stock Buyback Program

ELKHART, Ind., Jan. 26, 2016, PATK, /PRNewswire/  Patrick Industries, Inc. (NASDAQ: PATK) ( Patrick or the Company ) announced today that its Board of Directors has approved a new stock repurchase program that authorizes the repurchase of up to $50 million of the Company s common stock over the next 24 months. Share repurchases will be made from time to time through open market transactions at prevailing market prices, or in privately negotiated transactions or otherwise. This new stock repurchase program is aligned with our capital allocation strategy and reflects the confidence that our Board of Directors and management team have in Patrick s outlook and our commitment to driving shareholder value, said Todd M. Cleveland, Chief Executive Officer. The timing and amount of purchases under the program are discretionary and will be determined by management and the Board of Directors based upon market and business conditions, stock price and other factors.  The repurchase of any shares
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