Sherwin-Williams Declares Dividend of $1.65 per Common Share; Board Approves Additional 15 Million Share Repurchase Authorization

Rhea-AI Summary

The Sherwin-Williams Company (NYSE: SHW) announced a quarterly dividend of $1.65 per share, marking a 23.1% increase from $1.34 in the same quarter of 2020. The dividend will be paid on March 12, 2021, to shareholders of record as of March 1, 2021. Additionally, the Board authorized the repurchase of 15 million shares for treasury, with adjustments following a three-for-one stock split announced on February 3, 2021. This buyback authorization has no expiration date and aims to support general corporate purposes.

Positive

• Quarterly dividend increased by 23.1% to $1.65 per share.
• Authorization for an additional 15 million share buybacks reflects strong shareholder returns.

Negative

• None.

CLEVELAND, Feb. 17, 2021 /PRNewswire/ -- The Board of Directors of The Sherwin-Williams Company (NYSE: SHW) today announced a regular quarterly dividend of $1.65 per common share, an increase of 23.1% over the $1.34 paid in the same quarter in 2020, payable on March 12, 2021, to shareholders of record on March 1, 2021.  This increase follows 42 consecutive years of dividend increases.

Also, the Board authorized the Company to purchase 15 million shares of the Company's common stock for treasury, which is in addition to the shares remaining under the existing share repurchase authorization announced in October 2015.  The total amount authorized will be adjusted proportionately to reflect the three-for-one stock split announced on February 3, 2021 so that there will be three times as many shares authorized for repurchase immediately after the stock split.  The repurchase authorization has no expiration date, and purchases may be made from time to time for general corporate purposes.  

Investor Relations Contacts:	Media Contact:
Jim Jaye	Julie Young
Senior Vice President, Investor Relations &	Vice President, Global Corporate Communications
Corporate Communications	Sherwin-Williams
Sherwin-Williams	Direct:  216.515.8849
Direct:  216.515.8682	corporatemedia@sherwin.com
james.r.jaye@sherwin.com
Eric Swanson
Vice President, Investor Relations
Sherwin-Williams
Direct: 216.566.2766
eric.r.swanson@sherwin.com

 

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SOURCE The Sherwin-Williams Company

FAQ

What is the new dividend amount for Sherwin-Williams (SHW)?

The new dividend amount is $1.65 per common share.

When will the new dividend be paid for SHW?

The new dividend will be paid on March 12, 2021.

How much has Sherwin-Williams authorized for share repurchase?

Sherwin-Williams has authorized the repurchase of 15 million shares.

What is the significance of the stock split for SHW's buyback program?

The buyback authorization will increase proportionately to reflect the three-for-one stock split.

What is the duration of the share repurchase authorization for SHW?

The share repurchase authorization has no expiration date.