NEW BRITAIN, Conn., July 20 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that its Board of Directors approved an
increase of 3.3% in its quarterly cash dividend to $.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, September 25, 2007
to shareowners of record on Friday, September 7, 2007.
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 recent strong cash flows enable us to continue increasing
that dividend, 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 40th
consecutive year in which the annual dividend payment has been increased.
We are proud to extend that record, keeping Stanley among the top of S&P
500 component 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:
Gerry Gould, VP, Investor Relations, The
Stanley Works, +1-860-827-3833, ggould@stanleyworks.com
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