and Regular Quarterly Dividend
SHELTON, Conn., Sep 13, 2011 (BUSINESS WIRE) --
The Board of Directors of Hubbell Incorporated (NYSE: HUBA, HUBB) today announced the authorization of a stock repurchase program, and declared a regular quarterly dividend.
The share repurchase program authorizes the repurchase from time to time of up to $200 million of the Company's Class A and Class B common stock. Depending upon numerous factors, including market conditions and alternative uses of cash, the Company may conduct discretionary repurchases through open market and privately negotiated transactions during the Company's normal trading window. The repurchase program that was authorized today expires in September 2014. It will be implemented upon completion of the current $200 million repurchase program announced in December 2007, which has a remaining authorization of approximately $4 million.
The Board also declared a regular quarterly dividend of $0.38 per share on the Company's Class A and Class B common stock. The dividend will be paid on October 11, 2011 to shareholders of record on September 26, 2011.
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. With 2010 revenues of $2.5 billion, Hubbell Incorporated operates manufacturing facilities in the United States, Canada, Switzerland, Puerto Rico, Mexico, the People's Republic of China, Italy, the United Kingdom, Brazil and Australia. Hubbell also participates in joint ventures in Taiwan and Hong Kong, and maintains sales offices in Singapore, the People's Republic of China, Mexico, South Korea, and the Middle East. The corporate headquarters is located in Shelton, CT.
SOURCE: Hubbell Incorporated
James M. Farrell, 475-882-4000