Fastenal Company Announces Cash Dividend

Rhea-AI Summary

Fastenal Company (Nasdaq: FAST) has declared a quarterly dividend of $0.28 per share, scheduled for payment on August 24, 2021. Shareholders must be on record by the close of business on July 27, 2021. Fastenal resumed quarterly dividends in 2011 after paying special dividends previously in December 2008, 2012, and 2020. The company has increased its dividend payouts over recent years, reflecting a commitment to returning income to shareholders, supported by its solid financial performance.

Positive

• Declared quarterly dividend of $0.28 per share.
• Continuous dividend payments since 1991, indicating strong company performance.
• Increased dividend payments over recent years, showcasing financial stability.

Negative

• None.

Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.28 per share to be paid in cash on August 24, 2021 to shareholders of record at the close of business on July 27, 2021. Except for share and per share information, dollar amounts are stated in millions.

Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011. In addition to these regular dividend payments, Fastenal has previously paid special one-time dividends in December 2008, December 2012, and December 2020. Our board of directors currently intends to continue paying quarterly dividends, though all future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors, such as income tax rates related to dividends at that time.

In 2021, 2020, and 2019, we paid (or declared) dividends as follows:

Year		First Quarter				Second Quarter				Third Quarter				Fourth Quarter				Sub-Total (Regular)				Fourth Quarter (Special)				Total
2021		$	0.280			$	0.280			$	0.280
2020		$	0.250			$	0.250			$	0.250			$	0.250			$	1.000			$	0.400			$	1.400
2019		$	0.215			$	0.215			$	0.220			$	0.220			$	0.870			$	0.000			$	0.870

Dividend and common stock purchase activity during the last ten years:

																														Average Per
		Total					Dividends per Share														Total Value of					Total Number				Share Price of
	Dividend	Dividends					Regular						Special				Total				Common Stock					of Shares				Common Stock
Year	Payments	Paid					Dividend						Dividend				Dividend				Purchased					Purchased				Purchased
2021	Three (1)		$	482.6				$	0.84				$	—			$	0.84				$	—				—				$	—
2020	Five (2)		$	803.4				$	1.00				$	0.40			$	1.40				$	52.0				1,600,000				$	32.54
2019	Four		$	498.6				$	0.87				$	—			$	0.87				$	—				—				$	—
2018	Four		$	441.9				$	0.77				$	—			$	0.77				$	103.0				4,000,000				$	25.75
2017	Four		$	369.1				$	0.64				$	—			$	0.64				$	82.6				3,800,000				$	21.72
2016	Four		$	346.6				$	0.60				$	—			$	0.60				$	59.5				3,200,000				$	18.58
2015	Four		$	327.1				$	0.56				$	—			$	0.56				$	293.0				14,200,000				$	20.63
2014	Four		$	296.6				$	0.50				$	—			$	0.50				$	52.9				2,400,000				$	22.06
2013	Four		$	237.5				$	0.40				$	—			$	0.40				$	9.1				400,000				$	22.70
2012	Five (2)		$	367.3				$	0.37				$	0.25			$	0.62				$	—				—				$	—
Ten Year Total			$	4,170.7				$	6.55				$	0.65			$	7.20				$	652.1				29,600,000				$	22.03

(1)	The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 574.7 million shares outstanding at June 30, 2021.
(2)	There was a supplemental dividend paid in December 2012 and December 2020.

All share and per share information reflects the two-for-one stock split in 2019.

About Fastenal

Fastenal helps customers simplify and realize product and process savings across their supply chain. We sell a broad offering of products spanning more than nine major product lines – from fasteners and tools to safety and janitorial supplies. These products are efficiently distributed to manufacturing facilities, job sites, and other customer locations through local service teams and point-of-use FMI^® (Fastenal Managed Inventory) solutions, including industrial vending technology and bin stock programs. Our distribution system supports over 3,200 in-market locations (a combination of branches and customer-specific Onsite locations), primarily in North America but also in Asia, Europe, and Central and South America, each providing tailored inventory, flexible service, and custom solutions to drive the unique goals of local customers. These in-market servicing locations are supported by sixteen regional distribution centers, a captive logistics fleet, robust sourcing, quality and manufacturing resources, and multiple teams of industry specialists and support personnel – all working toward Fastenal’s common goal of Growth Through Customer Service^®.

Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.

This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a quarterly cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors. For example, a change in business needs including working capital and funding for acquisitions, or a change in income tax law relating to dividends, could cause the company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the company's filings with the SEC, including our most recent annual and quarterly reports. FAST-D

View source version on businesswire.com: https://www.businesswire.com/news/home/20210712005804/en/

FAQ

When is the Fastenal dividend payment date?

The Fastenal dividend payment date is August 24, 2021.

What is the amount of the Fastenal dividend?

The amount of the Fastenal dividend is $0.28 per share.

How often does Fastenal pay dividends?

Fastenal pays dividends quarterly.

What was the Fastenal dividend history for 2020?

In 2020, Fastenal paid a total dividend of $1.40 per share, including a special dividend of $0.40.

When was the last special dividend paid by Fastenal?

The last special dividend was paid in December 2020.