Graco Authorizes Repurchase of 6 Million Shares and Declares Regular Quarterly Dividend
September 14 2012 - 11:50AM
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 60.5 million shares outstanding:
- Authorization of a new plan for the
Company to purchase up to 6 million shares of its outstanding
common stock through September 30, 2015. These shares will be
acquired primarily through open-market purchases and accelerated
share repurchase transactions from time to time. The Company
currently has approximately 3.9 million shares available under its
current repurchase authorization, which expires on September 30,
2012.
- The declaration of a regular quarterly
dividend of 22-1/2 cents per common share, payable on November 7,
2012, to shareholders of record at the close of business on October
22, 2012.
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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