Valspar Corp. OKs Repurchase of Additional Shares of its Stock

MINNEAPOLIS - The Valspar Corp.'s board of directors authorized the repurchase of up to 2 million shares of the company's outstanding common stock, or 3% of the total of outstanding shares, over a 12-month period. The repurchase authorization is a renewal of similar previous annual authorizations and replaces an action approved in October 2003 under which approximately 50,800 shares were repurchased. As of Oct. 12, the company said 51,358,285 shares were outstanding.