CHICAGO, April 24,
2024 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW)
announced today that its board of directors approved a quarterly
cash dividend of $2.05 per share, an
increase of 10% from the most recent company dividend. The dividend
is payable on June 1, 2024, to
shareholders of record on May 13,
2024.
In addition, the board approved the repurchase of up to 5
million shares of the company's outstanding common stock, replacing
the company's existing repurchase authorization. The new repurchase
authorization has no expiration date. As of December 31, 2023, the company had approximately
49.3 million shares of common stock outstanding.
"2024 is on track to be our 53rd consecutive year of increased
dividends, upholding Grainger's long-standing commitment to our
shareholders. This increase, together with our updated share
repurchase authorization, reinforces our ability to continue
investing in the business while also returning excess cash to
shareholders," said D.G. Macpherson, Grainger Chairman and CEO.
About Grainger
W.W. Grainger, Inc., is a leading broad
line distributor with operations primarily in North America, Japan and the United
Kingdom. At Grainger, We Keep the World Working® by serving
more than 4.5 million customers worldwide with products delivered
through innovative technology and deep customer relationships. With
2023 sales of $16.5 billion, the
Company operates two business models. In the High-Touch Solutions
segment, Grainger offers approximately 2 million maintenance,
repair and operating (MRO) products and services, including
technical support and inventory management. In the Endless
Assortment segment, Zoro.com offers customers access to more than
13 million products, and MonotaRO.com offers more than 22 million
products. For more information, visit www.grainger.com.
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SOURCE W.W. Grainger, Inc.