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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 MduVgY6/dtYVmVYMxWl0IcI5A6h77x3nncSIuaIJlfWBQaeJgoheasP+ritDW45M
 xiYSTEly0aQaGyIigL4VWQ==

<SEC-DOCUMENT>0000897101-03-001629.txt : 20031215
<SEC-HEADER>0000897101-03-001629.hdr.sgml : 20031215
<ACCEPTANCE-DATETIME>20031215184953
ACCESSION NUMBER:		0000897101-03-001629
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031211
FILED AS OF DATE:		20031215

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PALEN GREGORY R
		CENTRAL INDEX KEY:			0001226129

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03011
		FILM NUMBER:		031055786

	BUSINESS ADDRESS:	
		STREET 1:		10 WEST SHORE ROAD
		CITY:			NORTH OAKS
		STATE:			MN
		ZIP:			55127
		BUSINESS PHONE:		6514907963

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALSPAR CORP
		CENTRAL INDEX KEY:			0000102741
		STANDARD INDUSTRIAL CLASSIFICATION:	PAINTS, VARNISHES, LACQUERS, ENAMELS & ALLIED PRODUCTS [2851]
		IRS NUMBER:				362443580
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		1101 THIRD ST SOUTH
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55415
		BUSINESS PHONE:		6123327371

	MAIL ADDRESS:	
		STREET 1:		1101 THIRD STREET SOUTH
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55415
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>val035365palen_4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-11</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000102741</issuerCik>
        <issuerName>VALSPAR CORP</issuerName>
        <issuerTradingSymbol>VAL</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001226129</rptOwnerCik>
            <rptOwnerName>PALEN GREGORY R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1101 THIRD STREET SOUTH</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55415</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-11</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>J</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F1"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>250</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>48.19</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>16521</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>120</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>By Spouse</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> Stock distribution for director meeting fees</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/Linda Colman, by Power of Attorney</signatureName>
      <signatureDate>2003-12-15</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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