Dover says approves $500 mln share buyback plan

NEW YORK, Aug 2 (Reuters) - Dover Corp (DOV.N) said on Thursday that its board approved the buyback of approximately $500 million of common stock.

The company said the program authorizes the repurchase of 10 million shares or approximately 5 percent of its outstanding shares.

Dover also said it increased its quarterly cash dividend to 20 cents per share from the previous 18.5 cents per share. (Reporting by Nicole Maestri)