NEW BRITAIN, Conn., July 26 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that its Board of Directors approved an increase
of 4% in its quarterly dividend to $.29 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 27, 2005 to shareowners of record on
Friday, September 9, 2005.
John F. Lundgren, Chairman and Chief Executive Officer, said: "Our strong
cash flows enable us to provide this increase in our cash dividend, while
maintaining debt levels within our target range and without any departure from
the acquisition program that is important to our ongoing portfolio transition.
The cash dividend is a key element of the total return we deliver to our
shareowners and this is the 38th consecutive year in which the annual dividend
payment has been increased. We are proud to extend that record and to keep
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 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
Company News On-Call:
http://www.prnewswire.com/comp/874363.html
CONTACT:
Gerry Gould, VP, Investor Relations,
+1-860-827-3833, ggould@stanleyworks.com
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