Matthews International Increases Quarterly Dividend
PITTSBURGH, Nov. 17, 2021 - Matthews International Corporation (NASDAQ: MATW) announced a $0.22 per share dividend, marking an increase in the quarterly rate. The dividend is payable on December 13, 2021 to stockholders of record as of November 29, 2021. President and CEO Joseph C. Bartolacci noted strong operating cash flow in fiscal 2021, contributing to significant debt reduction and reinforcing expectations for continued strong cash flow in fiscal 2022. This marks the company's 28th consecutive annual dividend increase since becoming publicly traded.
- Declared dividend of $0.22 per share, an increase in quarterly rate.
- 28th consecutive annual dividend increase.
- Strong operating cash flow in fiscal 2021, enabling debt reduction.
- Expectations for continued strong cash flow in fiscal 2022.
- None.
PITTSBURGH, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) announced that its Board of Directors declared, at its regularly scheduled meeting today, a dividend of
Joseph C. Bartolacci, President and Chief Executive Officer, stated: “Our Company’s operating cash flow continued to be strong in fiscal 2021 and, as a result, we were again able to report a significant reduction in outstanding debt. We expect cash flow to continue to remain strong in fiscal 2022. This represents our 28th consecutive annual dividend increase since becoming a publicly-traded company.”
The dividend is payable December 13, 2021 to stockholders of record November 29, 2021.
About Matthews International Corporation
Matthews International Corporation is a global provider of brand solutions, memorialization products and industrial technologies. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment designs, manufactures and distributes marking, coding and industrial automation technologies and solutions. The Company has approximately 11,000 employees in more than 26 countries on six continents that are committed to delivering the highest quality products and services.
Forward-looking Information
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in the cost of materials used in the manufacture of the Company's products, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company's acquisitions, cybersecurity concerns, effectiveness of the Company's internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company's control, impact of pandemics or similar outbreaks, such as coronavirus disease 2019 ("COVID-19") or other disruptions to our industries, customers, or supply chains, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: (412) 442-8200
| Contact: | Steven F. Nicola | William D. Wilson | |
| Chief Financial Officer | Senior Director, | ||
| and Secretary | Corporate Development |
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