Furniture manufacturer Herman Miller Inc. (NYSE: MLHR) has authorized the buyback of up to $163 million of shares, or 8% of its outstanding shares as of Jan. 10.
The board of directors also raised the quarterly stock dividend about 10% percent, and authorized the buyback of up to an additional $150 million of shares.
The Zeeland, Michigan-based firm raised the dividend to from 7.25 cents to 8 cents per share.
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