Graco Increases Regular Quarterly Dividend by 12.1 Percent - CFO Jim Graner Announces His Intention to Retire in 2008
December 07 2007 - 12:10PM
Business Wire
The Board of Directors of Graco Inc. (NYSE:GGG) has declared a
regular quarterly dividend of 18.5 cents per share, an increase of
12.1 percent, payable on February 6, 2008, to shareholders of
record at the close of business on January 22, 2008. The company
has approximately 62.4 million shares outstanding. In a separate
matter Graco announced today that James A. Graner, age 63, has
informed the company of his intention to retire as Chief Financial
Officer. Mr. Graner will continue as Chief Financial Officer during
the search for his replacement. Graco expects to complete the
transition to a new Chief Financial Officer by the end of 2008.
�During his 33 year career with Graco, Jim has brought tremendous
value to the organization,� said President and Chief Executive
Officer Patrick J. McHale. �We will miss his wisdom, integrity,
candor and leadership. On behalf of the members of management and
the Board of Directors, I would like to thank Jim for his years of
service and wish him the best in his retirement next year.� Graco
Inc. supplies technology and expertise for the management of fluids
in both industrial and commercial applications. It designs,
manufactures and markets systems and equipment to move, measure,
control, dispense and spray fluid 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.
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