URS Corp. (NYSE: URS) has told investors that it plans to return $500 million of its capital to stockholders by the end of fiscal year 2015.
The company will carry out the plan via share repurchases and dividends as part of its capital allocation strategy over the next two years, URS said Thursday.
Chief Financial Officer H. Thomas Hicks said the company has repurchased more than 10 percent of its outstanding stock since 2010.
“During the first half of the year, we generated $90 million in operating cash flow and returned $125 million to stockholders, ” Hicks said.
“We expect to return at least $500 million more to stockholders in total in 2014 and 2015, ” Hicks said.
Martin Koffel, URS chairman and CEO, said he does not expect the company to make additional acquisitions as it sees organic growth opportunities in the oil and gas and industrial markets.
