NEW BRITAIN, Conn., July 25 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that its Board of Directors approved an
increase of 3% in its quarterly cash dividend to $.30 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 26, 2006
to shareowners of record on Friday, September 8, 2006.
John F. Lundgren, Chairman and Chief Executive Officer, said: "The cash
dividend remains a key element of the total return we deliver to our
shareowners. This is the 39th 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. With recent strong
cash flows, we are able to continue increasing our cash dividend, maintain
debt levels consistent with our target range and pursue an acquisition
program that supports our ongoing portfolio transition."
The Stanley Works, an S&P 500 company, is a worldwide supplier of tools
and security solutions for professional, industrial and consumer use.
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,
+1-860-827-3833, ggould@stanleyworks.com, for The Stanley Works
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