Stanley Black & Decker (NYSE: SWK) announced its board of directors approved a second quarter cash dividend of $0.83 per common share, payable June 23, 2026, to shareholders of record as of June 8, 2026.

The company also said its board approved a $500 million common stock repurchase authorization on April 23, 2026. The authorization expires 36 months from the approval date.

As part of implementing the new repurchase program, Stanley Black & Decker terminated its previous share repurchase authorization of up to 20 million shares, effective April 23, 2026. All 20 million shares remained available under the previous authorization at the time of termination.

The company may repurchase shares through open market purchases, privately negotiated transactions or share repurchase programs, including accelerated share repurchase programs. Repurchases may be funded from cash on hand, short-term borrowings or other cash sources.

Stanley Black & Decker stated it has no obligation to repurchase shares under the authorization and may suspend or terminate repurchases at any time. The amount and timing of repurchases depend on factors including liquidity, share price, market conditions and legal requirements.

The New Britain, Connecticut-based company operates as a global manufacturer of tools and outdoor solutions with approximately 43,500 employees worldwide.