Fastenal Company Announces Cash Dividend

Rhea-AI Summary

Fastenal Company (Nasdaq: FAST) has declared a quarterly dividend of $0.28 per share, payable on November 23, 2021, to shareholders of record by the close of business on October 26, 2021. This marks a consistent history of quarterly dividend payments initiated in 2011, with total dividends for 2021 reaching $1.12 per share. The company, established in 1991 for annual dividends, has also issued special dividends in prior years. Future dividends depend on the company’s financial health and related factors.

Positive

• Declared quarterly dividend of $0.28 per share, totaling $1.12 for 2021.
• Strong history of consistent dividend payments since 2011.

Negative

• None.

WINONA, Minn.--(BUSINESS WIRE)-- Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.28 per share to be paid in cash on November 23, 2021 to shareholders of record at the close of business on October 26, 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			$	0.280			$	1.120
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		Four (1)		$	643.6		$	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
2012		Five (2)		$	367.3		$	0.37		$	0.25		$	0.62		$	—		—		$	—
Ten Year Total				$	4,331.7		$	6.83		$	0.65		$	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 575.2 million shares outstanding at September 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 16 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/20211011005662/en/

Ellen Stolts

Director of Accounting - Reporting and Reconciliation

507.313.7282

Source: Fastenal Company

FAQ

What is the dividend amount declared by Fastenal for November 2021?

Fastenal declared a dividend of $0.28 per share, payable on November 23, 2021.

When is the record date for Fastenal's dividend payment?

The record date for the dividend payment is October 26, 2021.

How much has Fastenal paid in dividends in 2021?

Fastenal has paid a total of $1.12 in dividends per share in 2021.

What is Fastenal's history with dividend payments?

Fastenal began paying annual dividends in 1991, switched to semi-annual dividends in 2003, and started quarterly dividends in 2011.

Has Fastenal issued special dividends?

Yes, Fastenal has issued special one-time dividends in December 2008, 2012, and 2020.