Board also authorizes repurchase of additional 5 million shares of
common stock
BLOOMINGTON, Minn.--(BUSINESS WIRE)--Dec. 11, 2012--
The Toro Company (NYSE: TTC) today announced that its board of directors
has declared a quarterly cash dividend of $0.14 per share, an increase
from the previous quarterly dividend rate of $0.11 per share. This
dividend is payable on December 31, 2012, to shareholders of record on
December 21, 2012. This accelerated quarterly dividend replaces the
dividend that would have been payable in January 2013.
Additionally, the board authorized the repurchase of an additional 5
million shares of common stock in the open market or in privately
negotiated transactions.
About The Toro Company
The Toro Company (NYSE: TTC) is a
leading worldwide provider of innovative turf, landscape, rental and
construction equipment, and irrigation and outdoor lighting solutions.
With sales of more than $1.9 billion in fiscal 2012, Toro’s global
presence extends to more than 90 countries through strong relationships
built on integrity and trust, constant innovation, and a commitment to
helping customers enrich the beauty, productivity and sustainability of
the land. Since 1914, the company has built a tradition of excellence
around a number of strong brands to help customers care for golf
courses, sports fields, public green spaces, commercial and residential
properties, and agricultural fields. More information is available at www.toro.com.
Source: The Toro Company
The Toro Company
Investor Relations
Kurt
Svendsen, 952-887-8630
Managing Director, Corporate Communications
and Investor Relations
invest@toro.com
or
Media
Relations
Branden Happel, 952-887-8930
Senior Manager,
Public Relations
pr@toro.com
