BLOOMINGTON, MN — The Toro Company (NYSE: TTC) announced July 21 that its board of directors has authorized the repurchase of an additional five million shares of common stock in the open market or in privately negotiated transactions. As of July 21 approximately 850,000 common shares remained available under a previous authorization.

The company’s continued strong cash flow enables it to return value to shareholders through dividends and share repurchases, the company said on its website.