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Toro Co. Buying Back More Shares
The Toro Co. said its board has authorized the company to buy back an additional 5 million shares of its common stock through open-market or privately negotiated transactions.
As of July 21, roughly 850,000 common shares remained available under a previous authorization from May 2008 to repurchase 4 million shares.
"The company's continued strong cash flow enables it to return value to shareholders through dividends and share repurchases," Toro said in a statement.
Bloomington-based Toro makes turf and landscape maintenance equipment and precision irrigation systems. The company had sales of roughly $1.9 billion in fiscal 2008.
Source: Minneapolis/St. Paul Business Journal
