Strong Results Drive Capital Return Shift at Tutor Perini (TPC)

Tutor Perini Corporation (NYSE:TPC) is included among the 13 Companies that Just Started Paying Dividends.

On November 18, Tutor Perini Corporation (NYSE:TPC) announced that strong third-quarter and year-to-date 2025 results prompted its Board of Directors to take action on capital returns. Year to date, operating cash flow reached a record $574.4 million, with $289.1 million generated in the third quarter alone. Backlog also hit a new high at $21.6 billion. Against that backdrop, the board declared a quarterly cash dividend of $0.06 per share and approved a $200 million share repurchase program.

Gary Smalley, chief executive officer and president of Tutor Perini, said operations have been running at a very high level. That performance led management to raise its 2025 earnings guidance for the third consecutive quarter. He pointed to strength across key operating metrics, especially the surge in operating cash flow and the record construction backlog that continues to support future results.

Smalley said the board views the current momentum as the right moment to reinforce the company’s capital allocation strategy. He noted that supportive macro conditions, steady customer demand, and significant federal, state, and local funding for infrastructure projects set the stage for meaningful revenue and profit growth. Those trends are also expected to drive strong cash generation in 2026 and 2027.

Looking ahead, management plans to match this period of faster growth with dividends and share repurchases, using both as tools to reward shareholders alongside the company’s expansion.

Tutor Perini Corporation (NYSE:TPC) is a global civil, building, and specialty construction company. It provides general contracting and design-build services to private clients and public agencies worldwide.

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