05:46 PM EDT, 08/08/2024 (MT Newswires) -- Snap-On (SNA) said Thursday its board has authorized a share repurchase program of up to $500 million.

The new program replaces the current repurchase authorization, with $260 million remaining at the end of Q2, Snap-On said.

Additionally, the company said its board kept the quarterly dividend at $1.86 per share, payable on Sept. 10 to shareholders of record on Aug. 19.