Graco Authorizes Repurchase of 6 Million Shares and Declares Regular Quarterly Dividend
MINNEAPOLIS--(BUSINESS WIRE)-- The Board of Directors of Graco Inc. (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.
James A. Graner, 612-623-6635
Jodi Ehlers Swanson, 612-623-6217
Source: Graco Inc.Copyright Business Wire 2012