Worthington Industries Announces 10 million Share Repurchase

Worthington Industries, Inc. (NYSE:WOR) will repurchase of up to an additional ten million of its outstanding common shares.

A prior authorization to repurchase ten million shares dated June 13, 2005, has 1.4 million shares remaining.  No timetable was established for the new repurchase.

Worthington Industries is a leading diversified metal processing company with annual sales of nearly $3 billion.



At a share price of $23, the 11.4 million share repurchase promises to return $262 million to shareholders over what will likely be a 2 year period or at a rate of $131 million per year.  With 85 million shares outstanding, the repurchase will return $1.54 per share per year.  Combined with the annualized divdidend of $0.68, the Total Payout is projected to be $2.22 with a Total Payout Yield of 9.7%.

- Payout Yield Staff 


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