Power tool maker The Black & Decker Corporation announced that it elected Robert L. Ryan to its board of directors. Ryan is currently a director of Hewlett-Packard Company, UnitedHealth Group and General Mills.
Until his retirement earlier this year, Ryan served as senior vice president and chief financial officer of Medtronic, Inc., a medical device manufacturer.
In addition, the board of directors also increased the company's authorization under its stock repurchase program by 5 million shares. During 2005, approximately 5.1 million shares have been repurchased. With the additional shares recently authorized, approximately 5.2 million shares remain authorized for repurchase.
The board also declared a quarterly cash dividend of U.S. $0.28 per share of Black & Decker's outstanding common stock payable Dec. 30, 2005, to stockholders of record at the close of business on Dec. 16, 2005.
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