Graco (GGG) said Friday its board approved a new stock repurchase plan for up to 15 million shares with no set expiration date.

The company said the purchases may take place through open-market transactions or accelerated buyback programs.

This is in addition to the 8 million shares still available under a 2018 repurchase authorization, Graco said.

Graco also declared a quarterly dividend of $0.295 per share from $0.275 apiece, payable Feb. 4 to shareholders on record as of Jan. 19.

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