Black & Decker
added Robert L. Ryan to its board and boosted its stock-buyback plan by 5 million shares.
The Towson, Md., toolmaker also declared a 28-cent regular quarterly dividend, payable Dec. 30 to shareholders of record Dec. 16.
Black & Decker said the share-buyback increase gives it the authority to buy back as many as 5.2 million shares. The company has repurchased 5.1 million shares this year.
Black & Decker said Ryan, 62 years old, was finance chief at medical device maker
until his retirement this year. He is a director at
"We are extremely pleased to welcome Bob Ryan," said CEO Nolan Archibald. "With his broad business expertise and over 25 years of senior financial experience, Bob will be a valuable addition to our board and audit committee."
On Friday, Black & Decker shares rose $1.42 to $78.50.