Stanley Black & Decker Announces Dividend Increase To $0.79 Per Share

Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) announced a 13% increase in its quarterly cash dividend, raising it to $0.79 per share, marking the 54th consecutive annual dividend increase. The dividend is payable on September 21, 2021, to shareholders of record by September 7, 2021. CEO James M. Loree emphasized the company's confidence in its cash generation potential, highlighting the dividend's role in enhancing shareholder value and their strategy to allocate approximately half of excess capital to shareholders for the long term.

Positive

• 13% increase in quarterly cash dividend to $0.79 per share.
• 54th consecutive annual dividend increase indicates strong financial stability.
• Commitment to return approximately half of excess capital to shareholders.

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• None.

NEW BRITAIN, Conn., July 21, 2021 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) announced today that its Board of Directors approved a $0.09, or 13%, increase of its quarterly cash dividend to $0.79 per common share. This marks the 54^th consecutive annual dividend increase for the company. The dividend is payable on Tuesday, September 21, 2021 to shareholders of record as of the close of business on Tuesday, September 7, 2021.

Stanley Black & Decker's CEO, James M. Loree, commented, "I am pleased to continue our trend of consecutive annual dividend increases, which reflects the continued confidence we have in the cash generation potential of the company.  A strong and growing dividend is a key element of our shareholder value proposition, and is consistent with our capital deployment philosophy to deliver approximately half of our excess capital to shareholders over the long term."

Stanley Black & Decker, an S&P 500 company, is a leading $14.5 billion global diversified industrial with 53,000 employees in more than 60 countries who make the tools, products and solutions to deliver on its Purpose, For Those Who Make The World. The Company operates the world's largest tools and storage business; the world's second largest commercial electronic security company; and is a global industrial leader of highly engineered solutions within its engineered fastening and infrastructure businesses. Learn more at www.stanleyblackanddecker.com.

Stanley Black & Decker Investor Contacts

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

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

Christina Francis
Director, Investor Relations
christina.francis@sbdinc.com 
(860) 438-3470

Media Contact: 
Debora Raymond
Vice President, Public Relations
Debora.Raymond@sbdinc.com 
(203) 640-8054

 

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SOURCE Stanley Black & Decker

FAQ

What is the new dividend amount for Stanley Black & Decker (SWK)?

The new dividend amount is $0.79 per share.

When will the dividend be paid for SWK?

The dividend will be paid on September 21, 2021.

What date is the record date for the SWK dividend?

The record date for the dividend is September 7, 2021.

How many consecutive annual dividend increases has SWK achieved?

SWK has achieved 54 consecutive annual dividend increases.

What percentage increase was announced for the SWK dividend?

A 13% increase in the dividend was announced.