Graco Inc. Authorizes Repurchase of 6 Million Shares and Declares Regular Quarterly Dividend
September 18 2009 - 11:56AM
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 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.
Graco (NYSE:GGG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Graco (NYSE:GGG)
Historical Stock Chart
From Jul 2023 to Jul 2024