Grainger ups share buyback program
Industrial Distribution staff -- Industrial Distribution, 4/30/2008 9:16:00 AM
The board of directors for W.W. Grainger Inc. increased the number of shares in the company’s stock repurchasing plan by 10 million.The Lake Forest, Ill.-based broad-line MRO distributor has bought back more than 59 million shares of its own stock since 1984 for roughly $2.7 billion.
The company, which ranked fourth on INDUSTRIAL DISTRIBUTION’s 2007 Big 50 list of distributors with 2006 sales of $5.9 billion, had approximately 77 million shares outstanding as of March 31.
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