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Graco Inc. declares 3-for-1 stock split

It marks the company's 12th split since becoming a public firm in 1969.

December 9, 2017 at 12:52PM
Reese's PB Cups are made possible thanks to Graco equipment.] Sweet toothers owe a debt of gratitude to Graco Inc., the seemingly innocuous pump and spray equipment firm that makes many of America's snacks possible. Graco's equipment sprays the shell on M&Ms, stuffs cream into Oreos, coats Doritos with orange cheese and even stuffs peanut butter into Reese's cups.Richard Tsong-Taatarii/rtsong-taatarii@startribune.com
R. TSONG-TAATARII • Star Tribune Reese’s Peanut Butter Cups are made possible thanks to Graco equipment. (The Minnesota Star Tribune)

Graco Inc. on Friday announced a three-for-one split of the company's common stock for shareholders of record as of Dec. 18.

The move marks the 12th stock split since the company went public in 1969.

Graco's stock rose about 1 percent Friday to close at $130.08.

Graco also announced that it is increasing its upcoming quarterly dividend by 10 percent to 39.75 cents per share. The dividend will be paid on Feb. 7, 2018, to shareholders on record as of Jan. 22.

The stock, which has recovered since the global industrial downturn, has recently been trading near its 52-week high of $134 a share.

Graco, which manufactures industrial sprayers for industries ranging from food to paint, also added Emily White to its board, effective Feb. 15.

White, a former chief operating officer at Snap Inc. and executive at Facebook, is currently on the board of Lululemon Athletica and Zayo Group and serves on the Executive Advisory Counsel for the National Center for Women & Information Technology.

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about the writer

Dee DePass

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Dee DePass is an award-winning business reporter covering Minnesota small businesses for the Minnesota Star Tribune. She previously covered commercial real estate, manufacturing, the economy, workplace issues and banking.

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