16.04.2015 13:28:11

Grainger Board Approves $3 Bln Share Buyback - Quick Facts

(RTTNews) - Grainger (GWW) announced that its Board has approved the purchase of $3 billion of its common stock over the next three years. The share repurchase will be financed with a combination of cash and the issuance of new, permanent debt. The Board has increased the repurchase authorization to 15 million shares. This replaces a prior program of 10 million shares approved in April 2014.

The company expects to issue $1 billion in long term debt in June 2015 to help fund the program.

Grainger expects the buybacks to be accretive to 2015 earnings in the range of $0.08 to $0.12 per share.

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Grainger Inc., W.W. 1 078,50 1,32% Grainger Inc., W.W.