ORANGE, Conn.--(BUSINESS WIRE)--June 8, 2005--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 $60 million of the Company's Class A and Class B common stock. The program will be implemented through open market and privately negotiated transactions. The timing of such transactions will depend on a variety of factors, including market conditions, but the program is expected to be completed within three years. The repurchase program will be implemented upon completion of the current repurchase program which was announced in September, 2003. The current program is expected to be completed in the third quarter of 2005.
The Board also declared a regular quarterly dividend of $.33 per share of the Company's Class A and Class B common stock. The dividend will be paid on July 11, 2005, to shareholders of record on June 20, 2005.
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for commercial, industrial, residential, utility, and telecommunications markets. With 2004 revenues of $2.0 billion, Hubbell Incorporated operates manufacturing facilities in North America, Puerto Rico, Mexico, Italy, Switzerland, and the United Kingdom, participates in a joint venture in Taiwan, and maintains sales offices in Singapore, Hong Kong, South Korea, People's Republic of China, and the Middle East. The corporate headquarters is located in Orange, CT.
CONTACT: Hubbell Incorporated
Thomas R. Conlin, 203-799-4100
SOURCE: Hubbell Incorporated