Graco : Announces 3-for-1 Stock Split and Increases Quarterly Dividend by 10.4 Percent
December 08, 2017 at 04:12 pm
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The Board of Directors of Graco Inc. (NYSE:GGG) today announced
the following actions related to its common stock of which there are
approximately 56 million shares outstanding:
The declaration of a 3-for-1 split of the Company’s common stock, to
be distributed on December 27, 2017, for shareholders of record as of
December 18, 2017. This is the twelfth split of the Company’s common
stock since it was first publicly offered in 1969.
The declaration of a regular quarterly dividend of 39.75 cents per
common share (or 13.25 cents per post-split share), an increase of
10.4 percent, payable on February 7, 2018, to shareholders of record
at the close of business on January 22, 2018.
ABOUT GRACO 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, and construction and maintenance industries. For additional
information about Graco Inc., please visit us at www.graco.com
or on Twitter @GracoInc.
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Graco Inc. is a manufacturing company. It supplies technology and expertise for the management of fluids and coatings in industrial and commercial applications. It operates through three segments: Contractor, Industrial and Process. Contractor segment offers sprayers that apply paint to walls and other structures, with product models for users ranging from do-it-yourself homeowners to professional contractors. It also manufactures two-component proportioning systems that are used to spray polyurethane foam (spray foam) and polyurea coatings. Industrial segment includes the Industrial and Powder divisions. The Industrial segment markets equipment and solutions for moving and applying paints, coatings, sealants, adhesives and other fluids. Process segment includes the Process and Lubrication divisions. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, wastewater, petroleum, food, lubricants and other fluids.