Donaldson Company Announces Quarterly Cash Dividend and New Share Repurchase Program

Rhea-AI Summary

Donaldson Company, Inc. (NYSE: DCI) announced a regular cash dividend of 25.0 cents per share and a new share repurchase program. The dividend is payable on December 20, 2023, to shareholders of record on December 5, 2023. This marks the 28th consecutive year of annual dividend increases for Donaldson, a member of the S&P High-Yield Dividend Aristocrats Index. The Board of Directors also authorized the repurchase of up to 12 million shares of its common stock, replacing the existing authority approved in May 2019. Donaldson has repurchased approximately 11 million shares under the prior authorization of 13 million shares.

Positive

• The announcement of a regular cash dividend and a new share repurchase program demonstrates the company's commitment to returning value to its shareholders.
• The 28th consecutive year of annual dividend increases indicates the company's stability and financial strength.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Donaldson Company, Inc. (NYSE: DCI) today announced that its Board of Directors declared a regular cash dividend of 25.0 cents per share and authorized a new share repurchase program.

The dividend is payable December 20, 2023, to shareholders of record on December 5, 2023. Donaldson is a member of the S&P High-Yield Dividend Aristocrats Index and calendar year 2023 will mark the 28^th consecutive year of annual dividend increases. The Company has paid a cash dividend every quarter for 68 years.

Additionally, Donaldson’s Board of Directors authorized the repurchase of up to 12 million shares of its common stock, or approximately 10 percent of its outstanding shares. The new repurchase authorization replaces the existing authority that was approved in May 2019. To date, the Company has repurchased approximately 11 million shares under the prior authorization of 13 million shares.

About Donaldson Company, Inc.

Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OEM brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231117203730/en/

Sarika Dhadwal

(952) 887-3753

Sarika.Dhadwal@Donaldson.com

Source: Donaldson Company, Inc.

FAQ

What is the dividend amount announced by Donaldson Company, Inc.?

Donaldson Company, Inc. announced a regular cash dividend of 25.0 cents per share.

When is the dividend payable to shareholders?

The dividend is payable on December 20, 2023, to shareholders of record on December 5, 2023.

How many shares of its common stock did Donaldson's Board of Directors authorize the repurchase of?

The Board of Directors authorized the repurchase of up to 12 million shares of its common stock, replacing the existing authority approved in May 2019.