Stanley Black & Decker Announces Dividend Increase To $0.70 Per Share

Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) has approved a $0.01 increase in its quarterly cash dividend, raising it to $0.70 per share. This marks the 53^rd consecutive annual dividend increase, showcasing the company's commitment to returning value to shareholders. The dividend is scheduled for payment on September 15, 2020, to shareholders recorded by the market close on September 1, 2020. CEO James M. Loree emphasized that this dividend reflects the company's strong financial health and ongoing capital deployment strategy.

Positive

• 53rd consecutive annual dividend increase demonstrates sustainability and commitment to shareholders.
• Increase in quarterly cash dividend reflects strong financial position and confidence in future growth.

Negative

• None.

NEW BRITAIN, Conn., July 14, 2020 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) announced today that its Board of Directors approved a $0.01 increase of its quarterly cash dividend to $0.70 per common share. This marks the 53^rd consecutive annual dividend increase for the company. The dividend is payable on Tuesday, September 15, 2020 to shareholders of record as of the close of business on Tuesday, September 1, 2020.

Stanley Black & Decker's President and CEO, James M. Loree, commented, "A strong and growing dividend is consistent with our capital deployment philosophy to deliver approximately half of our excess capital to shareholders over the long term, reflects our strong financial position and is a key element of our shareholder value proposition."

Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions, engineered fastening systems, and more. Learn more at www.stanleyblackanddecker.com.

Stanley Black & Decker Investor Contacts

Dennis Lange
Vice President, Investor Relations
(860) 827-3833
dennis.lange@sbdinc.com

Cort Kaufman
Director, Investor Relations
(860) 515-2741
cort.kaufman@sbdinc.com

 

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SOURCE Stanley Black & Decker

FAQ

What is the new dividend amount announced by Stanley Black & Decker?

The new dividend amount is $0.70 per share.

When will Stanley Black & Decker pay its dividend?

The dividend will be payable on September 15, 2020.

What is the record date for the dividend payment?

The record date for the dividend payment is September 1, 2020.

How many consecutive annual dividend increases has Stanley Black & Decker achieved?

Stanley Black & Decker has achieved its 53rd consecutive annual dividend increase.