Graco board increases dividend to 25 cents

MINNEAPOLIS (AP) -- Graco Inc. said Friday that its board approved the increase of the company's quarterly cash dividend by 2.5 cents to 25 cents.

The Minneapolis-based company, which makes fluid and lubrication systems for industrial and commercial use, said the new dividend, which represents an 11 percent increase over the previous payout, will be paid on Feb. 6 to shareholders of record as of Jan. 22.

Graco shares rose 13 cents to $51.14 in afternoon trading.