MINNEAPOLIS--(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 165.4 million shares outstanding:
- Authorization of a new plan to purchase up to 18 million shares of the Company’s outstanding common stock over an indefinite period of time or until the authorization is terminated by the Board. These shares will be acquired primarily through open-market purchases and accelerated share repurchase transactions from time to time. Shares purchased under this authorization will be in addition to approximately 3.3 million shares remaining under another share repurchase authorization that was announced in April of 2015.
- The declaration of a regular quarterly dividend of 16 cents ($0.16) per common share, an increase of 20.8 percent, payable on Feb. 6, 2019, to shareholders of record at the close of business on Jan. 22, 2019.
Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder 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 or on Twitter @GracoInc.