H.B. Fuller Co. said Thursday it will raise its quarterly dividend by 13% and set a $300 million stock repurchase program. The adhesives and sealants company’s stock fell 0.8% in morning trading. The company said the new dividend of 19 cents a share, up from 16.75 cents, will be payable on May 5 to shareholders of record on April 21. Based on current stock prices, the new annual dividend rate implies a dividend yield of 1.16%, compared with the implied yield for the S&P 500 of 1.41%. Separately, the $300 million buyback program represents about 8.6% of H.B. Fuller’s current market capitalization of $3.49 billion. H.B. Fuller’s stock has dropped 18.9% year to date, while the S&P 500 has shed 6.0%.
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