Avery Dennison declares dividend and announces authorization to repurchase common stock.PASADENA, Calif.--(BUSINESS WIRE)--Jan. 26, 1995--The board of directors of Avery Dennison Avery Dennison Corporation (NYSE: AVY) produces pressure-sensitive materials (such as self-adhesive labels), office products, and various paper products. R. Stanton Avery founded Avery in 1935. Avery Dennison Corporation was created in 1990 by merger of Avery and Dennison. Corp. (NYSE/PSE:AVY) Thursday declared a quarterly cash dividend of 27 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The dividend is payable on March 15 to shareholders of record at the close of business on March 1. The company also announced that the board of directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase of 5 million shares of the company's outstanding common stock. This was in addition to prior authorizations prior authorization, n See predetermination. prior authorization Health insurance A cost containment measure that provides full payment of health benefits only if the hospitalization or medical treatment has been to purchase up to an aggregate of 10.2 million shares, under which approximately 10 million shares have been purchased to date. Stock purchases may be made from time to time at the discretion of company management. Avery Dennison, based in Pasadena, makes self-adhesive materials, tapes and labels, office products, tags, retail systems and specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. . Its consumer brands include AVERY office labels, indexes, binders and software, MARKS-A-LOT and HI-LITER markers, and FASSON self-adhesive materials for industrial markets. The company employs 15,400 men and women in 200 manufacturing facilities and sales offices in 25 countries. CONTACT: Avery Dennison Corp., Pasadena Diane B. Dixon, 818/304-2118 (media) Wayne H. Smith, 818/304-2001 (investors) |
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