The Board of Directors of Graco Inc. (NYSE: GGG) today announced the following actions related to its common stock of which there are approximately 59.9 million shares outstanding:

  • Authorization of a plan for the Company to purchase up to an additional 6 million shares of its outstanding common stock from now through September 30, 2012. These shares will be acquired primarily through open-market purchases and accelerated share repurchase transactions from time to time. The Company currently has approximately 3 million shares available under its current repurchase authorization, which expires on September 30, 2009.
  • The declaration of a regular quarterly dividend of $0.19 per common share payable on November 4, 2009, to shareholders of record at the close of business on October 19, 2009.

“These actions reflect Graco’s strong historical financial performance as well as our outlook for future profitable growth,” said President and Chief Executive Officer Pat McHale.

Cautionary Statement Regarding Forward-Looking Statements

A forward-looking statement is any statement made in this earnings release and other reports that the Company files periodically with the Securities and Exchange Commission, as well as in press releases, analyst briefings, conference calls and the Company’s Annual Report to shareholders, which reflects the Company’s current thinking on market trends and the Company’s future financial performance at the time they are made. All forecasts and projections are forward-looking statements. The Company undertakes no obligation to update these statements in light of new information or future events.

The Company desires to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 by making cautionary statements concerning any forward-looking statements made by or on behalf of the Company. The Company cannot give any assurance that the results forecasted in any forward-looking statement will actually be achieved. Future results could differ materially from those expressed, due to the impact of changes in various factors. These risk factors include, but are not limited to: economic conditions in the United States and other major world economies, currency fluctuations, political instability, changes in laws and regulations, and changes in product demand. Please refer to Item 1A of, and Exhibit 99 to, the Company’s Annual Report on Form 10-K for fiscal year 2008 (and most recent Form 10-Q, if applicable) for a more comprehensive discussion of these and other risk factors. These reports are available on the Company’s website at www.graco.com and the Securities and Exchange Commission’s website at www.sec.gov.

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