Beacon Roofing Supply Inc. BECN stock is up 0.8% in premarket trades Friday after the company said it plans to repurchase 400,000 shares of Series A preferred stock from private equity firm Clayton, Dubilier & Rice (CD&R) for $804.5 million plus accrued and unpaid dividends. The deal will reduce the company’s diluted share count on an as-converted basis by 9.69 million shares and eliminate preferred dividends of $24 million per year, while simplifying the company’s capital structure, the company said. CD&R will continue to own 15.2 million shares of common stock. Beacon Roofing said it expects to report second-quarter…
