The Stanley Works Announces 42nd Consecutive Annual Dividend Increase
NEW BRITAIN, Conn., July 20 /PRNewswire-FirstCall/ --The Stanley Works (NYSE: SWK) announced today that its Board of Directors approved an increase of 3.1% in its quarterly cash dividend to $.33 per common share. This extends the company's record 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 22, 2009 to shareholders of record as of the close of business on Friday, September 4, 2009.
John F. Lundgren, Chairman and Chief Executive Officer, stated, "We remain very focused on the total return we deliver to shareholders and know that our dividend is a key component. We are proud to not only have maintained our dividend during this challenging period, but to raise it for the 42nd consecutive year in the face of this tumultuous economic environment."
The Stanley Works, an S&P 500 company, is a diversified worldwide supplier of security solutions for commercial applications as well as tools and engineered solutions for professional, industrial, construction and do-it-yourself use.
