Graco Authorizes Repurchase of Additional 18 Million Shares and Increases Quarterly Dividend 20.8 Percent
December 07 2018 - 11:26AM
Business Wire
The Board of Directors of Graco Inc. (NYSE:GGG) today
announced the following actions related to its common stock, of
which there are approximately 165.4 million shares outstanding:
- Authorization of a new plan to purchase
up to 18 million shares of the Company’s outstanding common stock
over an indefinite period of time or until the authorization is
terminated by the Board. These shares will be acquired primarily
through open-market purchases and accelerated share repurchase
transactions from time to time. Shares purchased under this
authorization will be in addition to approximately 3.3 million
shares remaining under another share repurchase authorization that
was announced in April of 2015.
- The declaration of a regular quarterly
dividend of 16 cents ($0.16) per common share, an increase of 20.8
percent, payable on Feb. 6, 2019, to shareholders of record at the
close of business on Jan. 22, 2019.
ABOUT GRACOGraco Inc. supplies technology and expertise
for the management of fluids and coatings in both industrial and
commercial applications. It designs, manufactures and markets
systems and equipment to move, measure, control, dispense and spray
fluid and powder materials. A recognized leader in its specialties,
Minneapolis-based Graco serves customers around the world in the
manufacturing, processing, construction and maintenance industries.
For additional information about Graco Inc., please visit us at
www.graco.com or on Twitter @GracoInc.
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version on businesswire.com: https://www.businesswire.com/news/home/20181207005366/en/
Investors: Mark Sheahan, 612-623-6656Media: Charlotte Boyd,
612-623-6153Charlotte_M_Boyd@graco.com
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