Published:
The Stanley Works Announces 41st Consecutive Annual Cash Dividend Increase
NEW BRITAIN, Conn., July 18 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that its Board of Directors approved an increase
of 3.2% in its quarterly cash dividend to $.32 per common share. This extends
the company's records for the longest consecutive annual and quarterly
dividend payments among industrial companies listed on the New York Stock
Exchange. The dividend is payable on Tuesday, September 23, 2008 to
shareowners of record on Friday, September 5, 2008.
John F. Lundgren, Chairman and Chief Executive Officer, said: "The cash
dividend is a key element of the total return we deliver to our shareowners.
Our consistently strong cash flows enable us to continue increasing that
dividend, while both maintaining debt levels consistent with our target range
and pursuing an acquisition program that continually strengthens our portfolio
of growth businesses. This is the 41st consecutive year in which Stanley's
annual dividend payment has been increased. We are proud to extend that
record, keeping Stanley among the top of S&P 500 companies in terms of the
number of successive years with an increased cash dividend."
The Stanley Works, an S&P 500 company, is a diversified worldwide supplier
of tools and engineered solutions for professional, industrial, construction
and do-it-yourself use, and security solutions for commercial applications.
More information about The Stanley Works can be found at
http://www.stanleyworks.com.
The Stanley Works corporate press releases are available in the Investor
Relations section of the company's Internet web site at www.stanleyworks.com.
SOURCE The Stanley Works
Copyright © 2009, PRNewswire
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