NEW BRITAIN, Conn., Feb. 20 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that its Board of Directors approved a regular
first quarter cash dividend of $.31 per common share. This extends the
company's records for the longest consecutive annual and quarterly dividend
payments among industrial companies listed on the New York Stock Exchange.
The dividend is payable on Tuesday, March 25, 2008 to shareowners of record
on Wednesday, March 5, 2008.
John F. Lundgren, Chairman and Chief Executive Officer, said: "Our
business delivered record earnings and cash flows in 2007. This enables us
to fund our dividend -- an important element of total shareowner return --
while maintaining debt levels consistent with our target range and while
pursuing an acquisition program that continually strengthens our portfolio
of growth businesses. This is the 452nd consecutive quarter in which
Stanley has paid a cash dividend. We are truly proud of our long dividend
history and of extending that record."
The Stanley Works, an S&P 500 company, is a diversified worldwide
supplier of tools and engineered solutions for professional, industrial,
construction and do-it-yourself use, and security solutions for commercial
applications.
More information about The Stanley Works can be found at
http://www.stanleyworks.com.
The Stanley Works corporate press releases are available in the
Investor Relations section of the company's Internet web site at
http://www.stanleyworks.com.
SOURCE The Stanley Works
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Related links:
http://www.StanleyWorks.com
http://www.prnewswire.com/comp/874363.html /
CONTACT:
Gerry Gould, VP, Investor Relations of The
Stanley Works, +1-860-827-3833, ggould@stanleyworks.com
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