Timken Declares Quarterly Dividend of 29 Cents Per Share

Rhea-AI Summary

The Timken Company (NYSE: TKR) has announced a 4% increase in its quarterly cash dividend, raising it to 29 cents per share. This dividend will be payable on December 3, 2020, to shareholders of record by November 24, 2020. This marks the company's 394th consecutive quarterly dividend payment since its NYSE listing in 1922, demonstrating a strong track record in shareholder returns. Timken reported $3.8 billion in sales for 2019 and employs over 17,000 people worldwide, indicating robust operational capacity.

Positive

• 4% increase in quarterly cash dividend to 29 cents per share
• 394th consecutive quarterly dividend demonstrates strong financial health
• $3.8 billion in sales reported for 2019 showcases revenue stability

Negative

• None.

NORTH CANTON, Ohio, Nov. 13, 2020 /PRNewswire/ -- The board of directors of The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, today approved a four percent increase to the company's quarterly cash dividend, raising it to 29 cents per share. The dividend is payable on Dec. 3, 2020, to shareholders of record as of Nov. 24, 2020.

This marks the 394th consecutive quarterly dividend paid on the common shares of the company since The Timken Company joined the New York Stock Exchange in 1922, one of the longest-running dividend records among NYSE-listed companies.

About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.

Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com

Investor Relations:
Neil Frohnapple
234.262.2310
neil.frohnapple@timken.com

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SOURCE The Timken Company

FAQ

What is the new dividend amount for TKR?

The new quarterly dividend amount for The Timken Company (TKR) is 29 cents per share.

When is the dividend for TKR payable?

The dividend is payable on December 3, 2020.

What is the record date for the TKR dividend?

The record date for the dividend is November 24, 2020.

How many consecutive dividends has TKR paid?

The Timken Company has paid 394 consecutive quarterly dividends.

What were Timken's sales in 2019?

Timken reported sales of $3.8 billion in 2019.