Parker Increases Quarterly Cash Dividend 10% to $1.63 per Share

Rhea-AI Summary

Parker Hannifin (NYSE: PH) has announced a 10% increase in its quarterly cash dividend to $1.63 per share of common stock, payable on June 7, 2024. This marks the 296th consecutive quarterly dividend paid by the company. The Chairman and CEO, Jenny Parmentier, emphasized the company's commitment to enhancing shareholder value through consistent dividend increases fueled by strong cash flow generation and strategic capital deployment. Parker Hannifin's dividend track record spans 68 consecutive fiscal years, solidifying its position as a Fortune 250 global leader in motion and control technologies.

Positive

• Parker Hannifin declared a quarterly cash dividend of $1.63 per share, a 10% increase over the previous dividend.
• The dividend is payable on June 7, 2024, to shareholders of record as of May 10, 2024.
• This dividend increase marks the 296th consecutive quarterly dividend paid by the company.
• Jenny Parmentier, Chairman and CEO, highlighted the company's focus on driving shareholder value through consistent dividend growth fueled by strong cash flow and strategic capital deployment.
• Parker Hannifin has a remarkable dividend track record of 68 consecutive fiscal years, placing it among the top five longest-running dividend-increase records in the S&P 500 index.

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• None.

CLEVELAND, April 25, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors has declared a quarterly cash dividend of $1.63 per share of common stock to shareholders of record as of May 10, 2024. The dividend is payable June 7, 2024. The dividend represents a 10% increase over the previous quarterly cash dividend of $1.48 per common share and will be the 296^th consecutive quarterly dividend paid by the company.

“Consistently increasing our annual dividend, a record that now stands at 68 consecutive fiscal years, remains an important priority,” said Jenny Parmentier, Chairman and Chief Executive Officer. “Our strong cash flow generation along with strategic capital deployment continues to create many opportunities for us to drive shareholder value.” 

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 68 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

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FAQ

What is the new quarterly cash dividend per share declared by Parker Hannifin (NYSE: PH)?

Parker Hannifin declared a quarterly cash dividend of $1.63 per share, representing a 10% increase over the previous dividend.

When is the dividend payable to shareholders of Parker Hannifin (NYSE: PH)?

The dividend is payable on June 7, 2024, to shareholders of record as of May 10, 2024.

How many consecutive quarterly dividends has Parker Hannifin (NYSE: PH) paid with this announcement?

This marks the 296th consecutive quarterly dividend paid by Parker Hannifin

What is the focus of Parker Hannifin (NYSE: PH) regarding shareholder value?

The company aims to enhance shareholder value through consistent dividend increases driven by strong cash flow generation and strategic capital deployment.

How many fiscal years of consecutive dividend increases has Parker Hannifin (NYSE: PH) achieved?

Parker Hannifin has a dividend track record of 68 consecutive fiscal years, placing it among the top five longest-running dividend-increase records in the S&P 500 index.