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HOUSTON, February 9, 2009 -- Cooper Industries, Ltd. (NYSE:CBE) today announced its Board of Directors has approved an increase to its share repurchase authorization by 10 million shares. In 2008 Cooper repurchased over 14.4 million shares and approximately 3 million shares remain under the current authorization. The new approval brings the total amount of shares authorized for repurchase to approximately 13 million.
The Board of Directors today declared a regular quarterly dividend of $0.25 on each share of the Company's outstanding common stock. The dividend is payable April 1, 2009, to shareholders of record on February 27, 2009.