OLI recorded this information on 1/9/2015
|Share Amount Authorized:
||Dover (NYSE:DOV) announced today that its Board of Directors has approved a new standing share repurchase authorization, whereby the company may repurchase up to 15 million shares of its common stock over the next three years. Share repurchases under this new authorization are expected to be funded by cash on hand, proceeds from divestitures and free cash flow. The new authorization replaces the prior 10 million share, five-year standing authorization approved by the Board in May 2012, which was substantially completed in the fourth quarter of 2014.
Dover is a manufacturer and solutions provider. Co.'s five operating and reportable segments are: Engineered Products, which provides a range of products, software and services; Fueling Solutions, which provides components, equipment and software, and service solutions enabling transport of fuels and other hazardous fluids; Imaging and Identification, which includes supplying precision marking and coding; Pumps and Process Solutions, which includes manufacturing of specialty pumps; and Refrigeration and Food Equipment, which provides equipment and systems that serve the commercial refrigeration, heating and cooling and food equipment markets.
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