Fastenal Company Announces Cash Dividend

Rhea-AI Summary

Fastenal Company (Nasdaq:FAST) has declared a $0.31 per share cash dividend, payable on May 25, 2022, to shareholders recorded by the close of business on April 27, 2022. Fastenal has a history of dividend payments, having transitioned from annual to semi-annual in 2003, and to quarterly payments in 2011. In the past three years, dividends per share were $1.12 in 2021 and $1.40 in 2020, reflecting the company's commitment to returning value to shareholders. Future dividend payments will depend on the company's financial health and other determining factors.

Positive

• Declared a dividend of $0.31 per share, enhancing shareholder income.
• Consistent dividend payments since 1991, showing strong commitment to shareholders.
• Increased dividends from $0.25 in 2020 to $0.31 in 2022, indicating growth.

Negative

• None.

WINONA, Minn.--(BUSINESS WIRE)-- Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.31 per share to be paid in cash on May 25, 2022 to shareholders of record at the close of business on April 27, 2022. 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 2022, 2021, and 2020, we paid (or declared) dividends as follows:

Year		First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Sub-Total (Regular)			Fourth Quarter (Special)			Total
2022		$	0.31		$	0.31
2021		$	0.28		$	0.28		$	0.28		$	0.28		$	1.12		$	0.00		$	1.12
2020		$	0.25		$	0.25		$	0.25		$	0.25		$	1.00		$	0.40		$	1.40

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
2022		Two (1)		$	356.9		$	0.62		$	—		$	0.62		$	—		—		$	—
2021		Four		$	643.7		$	1.12		$	—		$	1.12		$	—		—		$	—
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
Ten Year Total				$	4,321.4		$	7.08		$	0.40		$	7.48		$	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 575.6 million shares outstanding at March 31, 2022.
(2) There was a supplemental dividend paid in December 2020.

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

About Fastenal

Fastenal supplies a broad offering of industrial, construction, and safety products via approximately 3,200 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI^® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our motto, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.

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/20220412005790/en/

Ellen Stolts

Director of Accounting - Reporting and Reconciliation

507.313.7282

Source: Fastenal Company

FAQ

What is the dividend amount declared by Fastenal in 2022?

Fastenal declared a dividend of $0.31 per share.

When will Fastenal's dividend be paid?

The dividend will be paid on May 25, 2022.

What were Fastenal's dividends over the past three years?

Fastenal paid dividends of $1.12 in 2021 and $1.40 in 2020.

How frequently does Fastenal pay dividends?

Fastenal transitioned to quarterly dividend payments in 2011.

What factors affect Fastenal's future dividend payments?

Future dividend payments depend on the company's financial condition and other relevant factors.