Graco to Repurchase 6 Million Shares of Outstanding Common Stock
Buffalo, NY 9/19/2009 01:45 AM GMT (TransWorldNews)
Graco
Inc. (NYSE: GGG) has announced a regular quarterly dividend of $.19 per common
share to shareholders on November 4, 2009. The company will also purchase 6
million shares of its outstanding common stock up to September 30, 2010. The
shares are to be acquired through open market purchases. Under the company’s
repurchase authorization the company has about 3 million shares available.
Graco currently has 59.9 million outstanding shares.
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About Graco Inc.
Graco Inc. is engaged in providing fluid handling solutions to
organizations involved in manufacturing, processing, construction and
maintenance globally. The Company and its subsidiaries sell a range of products
in the North and South America, Middle East, Africa, Europe and Asia Pacific.
The Company operates in three business segments: industrial, contractor and
lubrication. In February 2008, Cohesant Technologies Inc. announced that it
completed the sale of its GlasCraft subsidiary effected through the merger of
Cohesant Technologies with Graco Indiana Inc., a wholly owned subsidiary of
Graco Inc. In August 2008, the Company completed the acquisition of Lubrication
Scientifics, Inc. (LubeSci).
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