Lincoln Electric Board Raises Dividend For 25th Consecutive Year

Rhea-AI Summary

Lincoln Electric announced a 4.1% increase in its quarterly cash dividend, raising it from $0.49 to $0.51 per share, equivalent to $2.04 annually. This marks the 25th consecutive annual increase, highlighting the company's strong cash flow and commitment to shareholder value. The dividend will be payable on January 15, 2021, to shareholders of record as of December 31, 2020. The company continues to focus on long-term growth while maintaining its dividend strategy.

Positive

• 4.1% increase in quarterly dividend from $0.49 to $0.51 per share.
• 25th consecutive annual dividend increase, indicating strong financial health.
• Annualized dividend now stands at $2.04 per share, enhancing shareholder value.

Negative

• None.

Quarterly Dividend Increases 4.1% or $0.02 to $0.51 Per Share

CLEVELAND, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc., (Nasdaq: LECO) announced today that its Board of Directors has approved a 4.1% increase in the quarterly cash dividend, from $0.49 per share to $0.51 per share, or to $2.04 per share on an annualized basis. This marks the 25^th consecutive annual increase of the dividend. The dividend is payable January 15, 2021 to shareholders of record at the close of business on December 31, 2020.

“We are proud to return value to our shareholders with 25-years of consecutive dividend increases – placing Lincoln Electric in a select group of companies,” said Christopher L. Mapes, Chairman, President and Chief Executive Officer. “The strength of our cash flow and balance sheet allows us to pursue long-term strategic growth while remaining committed to our dividend through the cycle.”

About Lincoln Electric

Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Headquartered in Cleveland, Ohio, Lincoln Electric has 59 manufacturing locations in 18 countries and a worldwide network of distributors and sales offices covering more than 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 new dividend amount for Lincoln Electric (LECO)?

The new dividend amount for Lincoln Electric (LECO) is $0.51 per share.

When will the dividend be payable for Lincoln Electric (LECO)?

The dividend will be payable on January 15, 2021.

How long has Lincoln Electric (LECO) been increasing its dividend?

Lincoln Electric (LECO) has increased its dividend for 25 consecutive years.

What is the annualized dividend for Lincoln Electric (LECO)?

The annualized dividend for Lincoln Electric (LECO) is $2.04 per share.