Graco Authorizes Repurchase of 6M Shares
The Board of Directors of Graco (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.
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