TOWSON, Md., Feb. 14 /PRNewswire-FirstCall/ -- The Black & Decker
Corporation (NYSE: BDK) announced that its Board of Directors declared a
quarterly cash dividend of $0.42 per share of the Corporation's outstanding
common stock payable March 28, 2008, to stockholders of record at the close
of business on March 14, 2008. In addition, its Board of Directors
increased the Corporation's authorization under its stock repurchase
program by 2.0 million shares, leaving approximately 4.9 million shares
authorized for repurchase.
Nolan D. Archibald, Chairman and Chief Executive Officer, commented,
"Black & Decker generated record free cash flow for the sixth consecutive
year in 2007. We intend to use our cash effectively, building shareholder
value through acquisitions, share repurchases, and dividends. Today's
decision to increase our share repurchase authorization reflects our
directors' confidence that Black & Decker will emerge from the difficult
business environment in a strong position, and gives us additional
flexibility to take advantage of attractive stock prices."
This release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. By their nature, all forward-looking statements
involve risks and uncertainties. For a more detailed discussion of the
risks and uncertainties that may affect Black & Decker's operating and
financial results and its ability to achieve the financial objectives
discussed in this press release, interested parties should review the "Risk
Factors" sections in Black & Decker's reports filed with the Securities and
Exchange Commission, including the Annual Report on Form 10-K for the
fiscal year ended December 31, 2006.
Black & Decker is a leading global manufacturer and marketer of power
tools and accessories, hardware and home improvement products, and
technology- based fastening systems.
SOURCE The Black & Decker Corporation
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CONTACT:
Mark M. Rothleitner, Vice President, Investor
Relations and Treasurer, +1-410-716-3979, or Roger A. Young, Vice
President, Investor and Media Relations, +1-410-716-3979, both of
The Black & Decker Corporation
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