Granite Construction Inc. - GVA STOCK NEWS

Granite (NYSE:GVA) announced a $16.5 million construction manager contract for the 5600 South Design Build project by the Utah Department of Transportation. The total project value is $155 million, with Granite's share at $93 million (60%). The scope includes widening 5600 South in Roy, Utah, constructing six bridges, and utilizing around 85,000 tons of hot mix asphalt. The construction manager phase starts in February 2022, with overall construction anticipated to begin in Q2 2023. This marks a continuation of Granite's successful partnership with UDOT.

Granite Construction Incorporated (NYSE: GVA) has announced a quarterly cash dividend of $0.13 per common share, payable on April 14, 2022, to shareholders recorded by the close of business on March 31, 2022. As a leading diversified construction and construction materials company in the U.S., Granite emphasizes high ethical standards and industry leadership in safety and sustainability.

Granite Construction Incorporated (NYSE: GVA) has entered into a definitive agreement to sell its trenchless and pipe rehabilitation business, Inliner, for $159.7 million. The company plans to divest its Water Resources and Mineral Services operations, categorizing them as discontinued as of December 31, 2021. Granite also increased its share repurchase program from $157 million to $300 million, aiming to enhance liquidity and return value to shareholders. Additionally, the company has reorganized its operating groups to streamline efficiencies and align with its core civil construction business.

Granite (NYSE:GVA) has secured a $16 million contract for the Eastside Rail Corridor Regional Trail NE 8th Street Crossing project in Bellevue, Washington. Funded by King County and Sound Transit, the project is part of the Eastrail program aimed at converting abandoned railroads into trails. The work includes constructing a pedestrian bridge and enhancing pedestrian access. Project commencement is scheduled for March 2022, with completion expected by June 2023.

Granite (NYSE:GVA) has been awarded a $90 million contract by California Department of Transportation for the State Route 70 Binney Junction Roadway Rehabilitation project. The first phase, valued at $1.3 million, involves design collaboration with Caltrans. The project includes utility relocation, drainage reconstruction, and roadway enhancements in Marysville. This marks Granite's third CM/GC project with Caltrans District 3 since 2018, enhancing its portfolio in California's infrastructure sector.

Granite (NYSE:GVA) celebrates its 100th anniversary on January 4, 2022, marking a century as a major civil infrastructure contractor and construction materials producer. Founded in Watsonville, California, Granite operates across the U.S., from Guam to Alaska and Florida. President and CEO Kyle Larkin expressed gratitude to employees, clients, subcontractors, and communities for their support in building vital infrastructure. Looking ahead, Granite aims to adapt and thrive in a changing world by understanding client and community needs as it builds for the next century.

Granite (NYSE:GVA) has committed to enhancing women's representation in leadership through its participation in the Catalyst CEO Champions for Change initiative. This program supports promoting women across various ethnic and racial groups into executive roles, with women now making up 27.9% of executives compared to 23% globally. A report showed that Champion companies, including Granite, promoted women at nearly equal rates to men in 2020. Additionally, women held 32.2% of board positions at these companies, exceeding the Fortune 500 average of 26.5%.

Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share. The dividend is set to be paid on January 14, 2022 to shareholders on record as of the close of business on December 31, 2021. This announcement reaffirms Granite's commitment to returning value to its shareholders while maintaining its position as a leader in the construction and infrastructure sector in the U.S.

Granite (NYSE:GVA) received two 2021 CalCIMA Excellence in Safety Awards at the CalCIMA Education Conference, recognizing its commitment to safety leadership and innovation. The Solari Sand & Gravel facility in Arvin won in the Small Aggregate Mine category, incorporating advanced safety systems including innovative cone crushers and updated electrical systems. The Desert Cities Asphalt Plant in Indio won for its enforcement of PPE standards and daily safety meetings. The recognition reflects Granite's dedication to maintaining high safety standards across its operations.