Lincoln Electric Approves New Share Repurchase Program - Quick Facts

(RTTNews) - Lincoln Electric Holdings, Inc., (LECO) Friday said its Board of Directors approved a new share repurchase program authorizing the company to repurchase in the aggregate up to 15 million of its outstanding common stock.

The new program is in addition to the previous 30 million share program that has 2.1 million shares remaining, after buying back 1.2 million shares year-to-date through June 30.

Additionally, the board declared a quarterly cash dividend of $0.20 per share, payable October 15 to holders of record as of September 30.

The firm also announced that Phillip Mason, 63, retired President of the Europe, Middle East, Africa (EMEA) sector of Ecolab, Inc. has been elected to Lincoln's Board of Directors, effective immediately.

With the addition of Mason, Lincoln Electric's Board will be comprised of 13 directors, of which 11 are non-employee directors.