CLEVELAND, Jan. 29 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation
(NYSE: PH), the global leader in motion and control technologies, today
announced that its Board of Directors has declared a regular quarterly cash
dividend of 25 cents per share of common stock to shareholders of record as of
February 19, 2009. The dividend is payable March 6, 2009.
This is the company's 235th consecutive quarterly dividend and comprises a
distribution of approximately $40 million. Parker has increased its annual
dividends paid to shareholders for 52 consecutive years, among the top five
longest-running dividend-increase records in the S&P 500 Index.
With annual sales exceeding $12 billion, Parker Hannifin is the world's
leading diversified manufacturer of motion and control technologies and
systems, providing precision-engineered solutions for a wide variety of
mobile, industrial and aerospace markets. The company employs approximately
62,000 people in 48 countries around the world. Parker has increased its
annual dividends paid to shareholders for 52 consecutive years, among the top
five longest-running dividend-increase records in the S&P 500 index. For more
information, visit the company's web site at http://www.parker.com, or its
investor information site at http://www.phstock.com.
Forward-Looking Statements
Forward-looking statements contained in this and other written and oral
reports are made based on known events and circumstances at the time of
release, and as such, are subject in the future to unforeseen uncertainties
and risks. All statements regarding future performance, earnings projections,
events or developments are forward-looking statements. It is possible that the
future performance and earnings projections of the company and individual
segments may differ materially from current expectations, depending on
economic conditions within its mobile, industrial and aerospace markets, and
the company's ability to maintain and achieve anticipated benefits associated
with announced realignment activities, strategic initiatives to improve
operating margins, actions taken to combat the effects of the current
recession, and growth, innovation and global diversification initiatives. A
change in economic conditions in individual markets may have a particularly
volatile effect on segment results. Among the other factors which may affect
future performance are: changes in business relationships with and purchases
by or from major customers or suppliers, including delays or cancellations in
shipments or significant changes in financial condition; uncertainties
surrounding timing, successful completion or integration of acquisitions;
threats associated with and efforts to combat terrorism; uncertainties
surrounding the ultimate resolution of outstanding legal proceedings;
competitive market conditions and resulting effects on sales and pricing;
increases in raw material costs that cannot be recovered in product pricing;
the company's ability to manage costs related to employee retirement and
health care benefits and insurance; and global economic factors, including
manufacturing activity, air travel trends, currency exchange rates,
difficulties entering new markets and general economic conditions such as
inflation, deflation, interest rates and credit availability. The company
makes these statements as of the date of this disclosure, and undertakes no
obligation to update them.
