Lincoln Electric Announces 11% Dividend Increase

Rhea-AI Summary

Lincoln Electric announces an 11% increase in quarterly cash dividend

Positive

• The Board of Directors has approved an 11% increase in the quarterly cash dividend
• The dividend will increase from $0.64 per share to $0.71 per share
• The annualized dividend will be $2.84 per share
• The dividend is payable on January 12, 2024
• The dividend increase reflects strong execution of the Higher Standard 2025 Strategy, record cash flow generation, and confidence in the company's ability to generate long-term value for shareholders

Negative

• None.

28th Consecutive Annual Dividend Increase

CLEVELAND, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc., (Nasdaq: LECO) announced today that its Board of Directors has approved an 11% increase in the quarterly cash dividend, from $0.64 per share to $0.71 per share, or to $2.84 per share on an annualized basis. The dividend is payable January 12, 2024, to shareholders of record at the close of business on December 31, 2023.

“Our dividend increase reflects strong execution of our Higher Standard 2025 Strategy, record cash flow generation, and confidence in our ability to continue to generate superior long-term value for our shareholders,” said Christopher L. Mapes, Chairman, President and Chief Executive Officer.

About Lincoln Electric

Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers’ fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln has 71 manufacturing locations in 20 countries and a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com.

FAQ

What is the increase in the quarterly cash dividend?

The quarterly cash dividend has increased by 11%.

What will be the new dividend per share?

The new dividend per share will be $0.71.

When will the dividend be payable?

The dividend will be payable on January 12, 2024.

What does the dividend increase reflect?

The dividend increase reflects strong execution of the Higher Standard 2025 Strategy, record cash flow generation, and confidence in the company's ability to generate long-term value for shareholders.