ST. PAUL, Minn., April 06, 2017 (GLOBE NEWSWIRE) -- H.B. Fuller Company (NYSE:FUL) announced today that its Board of Directors voted to increase the Company’s regular quarterly cash dividend from $0.14 per share of common stock to $0.15 per share of common stock. This represents a 7 percent increase over the prior quarterly dividend and marks the 48th consecutive year in which the Company has increased its dividend.
The dividend of $0.15 per share of common stock is payable on May 4, 2017 to shareholders of record at the close of business on April 20, 2017.
The Board of Directors also authorized a share repurchase program of up to $200 million of the Company’s outstanding common shares for a period of up to five years. Under the share repurchase program, the Company, at management’s discretion, may repurchase shares for cash on the open market from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement, to buy back shares that are issued under the Company’s stock based incentive compensation plans as well as for potential strategic opportunities. The primary source of funding for the program is expected to be excess cash held in the United States. The program does not require the Company to repurchase any specific number of shares or to complete the program on any specific timeline. The program may be modified, suspended or terminated at any time without prior notice. This share repurchase authorization replaces the Company’s previous authorization that was approved in September of 2010.
About H.B. Fuller Company:
For 130 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2016 net revenue of $2.1 billion, H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in electronics, disposable hygiene, medical, transportation, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. And our promise to our people connects them with opportunities to innovate and thrive. For more information, visit us at www.hbfuller.com and subscribe to our blog.