Courtesy of Benzinga.
Stanley Black & Decker (NYSE: SWK) announced today that its Board of Directors approved a 20% increase of its quarterly cash dividend to $0.49 per common share. This marks the 45th consecutive annual dividend increase for the company. The dividend is payable on Tuesday, September 18, 2012 to shareholders of record as of the close of business on Friday, September 7, 2012.
The Board of Directors also approved a new share repurchase program of up to 20 million shares of the company’s common stock, or $1.2 billion, using the current stock price. Repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions, depending on market conditions, and may be discontinued at any time.
