NEW BRITAIN, Conn., July 18 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that its Board of Directors approved an
increase of 3.2% in its quarterly cash dividend to $.32 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, September 23, 2008
to shareowners of record on Friday, September 5, 2008.
John F. Lundgren, Chairman and Chief Executive Officer, said: "The cash
dividend is a key element of the total return we deliver to our
shareowners. Our consistently strong cash flows enable us to continue
increasing that dividend, while both maintaining debt levels consistent
with our target range and pursuing an acquisition program that continually
strengthens our portfolio of growth businesses. This is the 41st
consecutive year in which Stanley's annual dividend payment has been
increased. We are proud to extend that record, keeping Stanley among the
top of S&P 500 companies in terms of the number of successive years with an
increased cash dividend."
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:
Greg Waybright, Interim VP, Investor
Relations of The Stanley Works, +1-860-827-3544,
gwaybright@stanleyworks.com
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