GFF - Griffon concludes strategic alternatives review increases share repurchase program

2023-04-20 10:45:04 ET

• Griffon ( NYSE: GFF ) said on Thursday that the board has concluded a review of strategic alternatives, and also approved an increase of the share repurchase program.
• The review was initiated in January 2022.
• The board has determined that the ongoing strategic plan is the best way to maximize shareholder value.
• The share repurchase authorization has been increased to $258M from $58M.
• Additionally, the board declared a special dividend of $2.00 per share.
• Griffon had solicited interest from a wide range of potential counterparties, but had determined that none of the proposals received reflect the company's intrinsic value.
• Source: Press Release

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