Thursday, April 30, 2015
The Board of Directors of Graco Inc. has announced a new share repurchase program that authorizes management to buy back up to an additional 6 million shares of the company’s common stock over an indefinite period of time or until terminated by the Board.
Company’s existing authorization of 6 million shares was announced in September 2012 and expires September 30, 2015. There are approximately 58.7 million shares outstanding. The new share will be acquired primarily through open-market purchases and accelerated share repurchase transactions from time to time. This authorization is in addition to approximately 1.6 million shares remaining, as of April 23, 2015, under the existing share repurchase authorization.
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 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.