CHICAGO, April 24, 2024 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) announced today that its board of directors approved a quarterly cash dividend of $2.05 per share, an increase of 10% from the most recent company dividend. The dividend is payable on June 1, 2024, to shareholders of record on May 13, 2024.
In addition, the board approved the repurchase of up to 5 million shares of the company's outstanding common stock, replacing the company's existing repurchase authorization. The new repurchase authorization has no expiration date. As of December 31, 2023, the company had approximately 49.3 million shares of common stock outstanding.
"2024 is on track to be our 53rd consecutive year of increased dividends, upholding Grainger's long-standing commitment to our shareholders. This increase, together with our updated share repurchase authorization, reinforces our ability to continue investing in the business while also returning excess cash to shareholders," said D.G. Macpherson, Grainger Chairman and CEO.
About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America, Japan and the United Kingdom. At Grainger, We Keep the World Working® by serving more than 4.5 million customers worldwide with products delivered through innovative technology and deep customer relationships. With 2023 sales of $16.5 billion, the Company operates two business models. In the High-Touch Solutions segment, Grainger offers approximately 2 million maintenance, repair and operating (MRO) products and services, including technical support and inventory management. In the Endless Assortment segment, Zoro.com offers customers access to more than 13 million products, and MonotaRO.com offers more than 22 million products. For more information, visit www.grainger.com.
SOURCE W.W. Grainger, Inc.
