Fastenal Company Announces Cash Dividend
The Fastenal Company (NASDAQ: FAST) has declared a cash dividend of $0.39 per share, payable on August 23, 2024, to shareholders of record as of July 26, 2024. Fastenal has a strong history of dividend payments, transitioning from annual to semi-annual, and now quarterly dividends since 2011. The company has also issued special one-time dividends in December 2008, 2012, 2020, and 2023. In 2024, Fastenal has declared dividends totaling $1.17 per share. The company continues to prioritize dividends as part of its financial strategy, though future payments will depend on financial conditions and other relevant factors. Over the past ten years, Fastenal has paid dividends totaling $10.15 per share and repurchased 31.8 million shares at an average price of $26.03.
- Declared a cash dividend of $0.39 per share, payable on August 23, 2024.
- Strong history of dividend payments, with a total of $10.15 per share over the past decade.
- 2024 dividends declared amount to $1.17 per share.
- No common stock repurchase in the second quarter of 2024.
We 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, we have previously paid special one-time dividends in December 2008, December 2012, December 2020, and December 2023. 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 Fastenal 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 2024, 2023, and 2022, we paid (or declared) dividends as follows:
Year |
|
First
|
|
Second
|
|
Third
|
|
Fourth
|
|
Sub-Total
|
Fourth
|
|
Total |
|||||||
2024 |
|
$ |
0.39 |
|
$ |
0.39 |
|
$ |
0.39 |
|
|
|
|
|
|
|
||||
2023 |
|
$ |
0.35 |
|
$ |
0.35 |
|
$ |
0.35 |
|
$ |
0.35 |
|
$ |
1.40 |
$ |
0.38 |
|
$ |
1.78 |
2022 |
|
$ |
0.31 |
|
$ |
0.31 |
|
$ |
0.31 |
|
$ |
0.31 |
|
$ |
1.24 |
$ |
0.00 |
|
$ |
1.24 |
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 |
||||||||||||||||
2024 |
Three (1) |
|
$ |
669.8 |
|
|
$ |
1.17 |
|
|
$ |
— |
|
$ |
1.17 |
|
|
$ |
— |
|
|
— |
|
|
$ |
— |
|
2023 |
Five (2) |
|
$ |
1,016.8 |
|
|
$ |
1.40 |
|
|
$ |
0.38 |
|
$ |
1.78 |
|
|
$ |
— |
|
|
— |
|
|
$ |
— |
|
2022 |
Four |
|
$ |
711.3 |
|
|
$ |
1.24 |
|
|
$ |
— |
|
$ |
1.24 |
|
|
$ |
237.8 |
|
|
5,000,000 |
|
|
$ |
47.58 |
|
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 |
|
Ten Year Total |
|
|
$ |
5,828.3 |
|
|
$ |
9.37 |
|
|
$ |
0.78 |
|
$ |
10.15 |
|
|
$ |
827.9 |
|
|
31,800,000 |
|
|
$ |
26.03 |
|
(1) The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 572.6 million shares outstanding at June 30, 2024.
(2) There was a supplemental dividend paid in December 2020 and December 2023.
In the second quarter of 2024, we did not repurchase any of our common stock.
We have authority to purchase up to 6,200,000 additional shares of our common stock under the July 12, 2022 authorization. This authorization does not have an expiration date.
All share and per share information reflects the two-for-one stock split in 2019.
About Fastenal
Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,500 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 tagline, Where Industry Meets Innovation™. Our local service teams are supported by 17 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 our website at www.fastenal.com.
Cautionary Note Regarding Forward-Looking Statements
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 Fastenal 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 or stock repurchases, could cause us to decide not to pay a dividend in the future or not to repurchase common stock pursuant to the existing share repurchase authorization. A discussion of other risks and uncertainties is included in our filings with the Securities and Exchange Commission, including our most recent annual report and subsequent quarterly reports. FAST-D
View source version on businesswire.com: https://www.businesswire.com/news/home/20240711878912/en/
Taylor Ranta Oborski
Financial Reporting & Regulatory Compliance Manager
507.313.7959
Source: Fastenal Company
FAQ
When is Fastenal's dividend payment date in 2024?
What is the amount of Fastenal's upcoming dividend?
As of which date should shareholders hold Fastenal shares to receive the dividend?
How much has Fastenal declared in dividends per share for 2024?
Has Fastenal repurchased any common stock in the second quarter of 2024?
What is the total dividend amount paid by Fastenal over the past decade?
