Donaldson authorizes repurchase of up to 12M shares

Donaldson Company announced that its board of directors declared a regular cash dividend of 25c per share and authorized a new share repurchase program. The dividend is payable December 20 to shareholders of record on December 5. Additionally, Donaldson’s board authorized the repurchase of up to 12M shares of its common stock, or approximately 10% of its outstanding shares. The new repurchase authorization replaces the existing authority that was approved in May 2019. To date, the company has repurchased approximately 11M shares under the prior authorization of 13M shares.