H.B. Fuller Company (FUL) said Thursday that its Board of Directors has approved a share repurchase program of up to $100 million of the company’s common shares.
“We are pleased to announce a share repurchase program that allows us to return excess capital to our shareholders while fully maintaining our financial flexibility to invest in our business,” Jim Giertz, senior vice president and CFO said in a statement.
Also today, the St. Paul, Minnesota – based company, which manufactures, and markets adhesives, sealants, paints, and other specialty chemical products worldwide, declared a regular quarterly cash dividend of $0.07 per share of common stock.
The regular cash dividend of $0.07 p/sh is payable on October 28, 2010 to shareholders of record at the close of business on October 14, 2010.
At last check, FUL shares were down $0.17 to $19.83, a loss of 0.85 percent.