Bulletin
Investor Alert

Market Pulse Archives

April 28, 2021, 11:31 a.m. EDT

W.W. Grainger lifts dividend, sets stock buyback program for nearly 10% of the shares outstanding

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    W.W. Grainger Inc. (GWW)
  • X
    Industrial Select Sector SPDR ETF (XLI)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

W.W. Grainger Inc. /zigman2/quotes/200853098/composite GWW -0.72% said Wednesday that it will raise its quarterly dividend to $1.62 a share from $1.53 a share. The supplier of maintenance, repair and operating (MRO) products said the new dividend will payable June 1 to shareholders of record on May 10. Based on current share prices -- the stock rose 0.9% toward a record close -- the new annual dividend rate implies a dividend yield of 1.52%, compared with the yield for the SPDR Industrial Select Sector ETF /zigman2/quotes/202026558/composite XLI -0.53% of 1.25% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.08% of 1.39%, according to FactSet. Separately, the company said its board of directors have authorized the repurchase of up to 5 million shares, with no expiration date, which would represent about 9.5% of the shares outstanding. The stock has climbed 14.8% over the past three months, while the S&P 500 has advanced 10.6%.

/zigman2/quotes/200853098/composite
US : U.S.: NYSE
$ 401.27
-2.91 -0.72%
Volume: 196,477
Sept. 21, 2021 4:00p
P/E Ratio
24.50
Dividend Yield
1.61%
Market Cap
$21.05 billion
Rev. per Employee
$510,693
loading...
/zigman2/quotes/202026558/composite
US : U.S.: NYSE Arca
$ 98.34
-0.52 -0.53%
Volume: 14.35M
Sept. 21, 2021 4:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,354.19
-3.54 -0.08%
Volume: 1.91B
Sept. 21, 2021 5:12p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.