Lincoln Electric Board Approves 14.3% Dividend Increase

Rhea-AI Summary

Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced a 14.3% increase in its quarterly cash dividend, raising it from $0.56 to $0.64 per share, equating to $2.56 annually. This marks the 27th consecutive annual dividend increase. The dividend is payable on January 13, 2023, to shareholders on record as of December 31, 2022. CEO Christopher L. Mapes attributed this increase to the successful execution of their Higher Standard 2025 Strategy and confidence in future cash flow generation.

Positive

• 14.3% increase in quarterly cash dividend from $0.56 to $0.64 per share.
• 27th consecutive annual increase in the dividend.
• Confidence in future cash flow generation supports dividend growth.

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• None.

CLEVELAND, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc., (Nasdaq: LECO) announced today that its Board of Directors has approved a 14.3% increase in the quarterly cash dividend, from $0.56 per share to $0.64 per share, or to $2.56 per share on an annualized basis. This marks the 27^th consecutive annual increase of the dividend. The dividend is payable January 13, 2023 to shareholders of record at the close of business on December 31, 2022.

“Our dividend increase reflects the strong execution of our Higher Standard 2025 Strategy and our confidence in the strength of future cash flow generation through the cycle,” 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 56 manufacturing locations in 19 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

When will Lincoln Electric's dividend be paid in 2023?

The dividend will be paid on January 13, 2023.

What is the new dividend amount for Lincoln Electric?

The new dividend amount is $0.64 per share.

What is the significance of Lincoln Electric's 27th consecutive dividend increase?

It demonstrates the company's commitment to returning value to shareholders and financial stability.