CLEVELAND, Oct. 22 /PRNewswire-FirstCall/ -- Parker Hannifin
Corporation (NYSE: PH), the global leader in motion and control
technologies, today announced that its Board of Directors has declared a
regular quarterly cash dividend of 25 cents per share of common stock to
shareholders of record as of November 20, 2008. The dividend is payable
December 5, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
This is the company's 234th consecutive quarterly dividend and
comprises a distribution of approximately $40 million. Parker has increased
its annual dividends paid to shareholders for 52 consecutive years, among
the top five longest-running dividend-increase records in the S&P 500
Index.
With annual sales exceeding $12 billion, Parker Hannifin is the world's
leading diversified manufacturer of motion and control technologies and
systems, providing precision-engineered solutions for a wide variety of
mobile, industrial and aerospace markets. The company employs approximately
62,000 people in 48 countries around the world. Parker has increased its
annual dividends paid to shareholders for 52 consecutive years, among the
top five longest-running dividend-increase records in the S&P 500 index.
For more information, visit the company's web site at http://www.parker.com
, or its investor information site at http://www.phstock.com .
Forward-Looking Statements
Forward-looking statements contained in this and other written and oral
reports are made based on known events and circumstances at the time of
release, and as such, are subject in the future to unforeseen uncertainties
and risks. All statements regarding future performance, earnings
projections, events or developments are forward-looking statements. It is
possible that the future performance and earnings projections of the
company and individual segments may differ materially from current
expectations, depending on economic conditions within its mobile,
industrial and aerospace markets, and the company's ability to maintain and
achieve anticipated benefits associated with announced realignment
activities, strategic initiatives to improve operating margins, and growth,
innovation and global diversification initiatives. A change in economic
conditions in individual markets may have a particularly volatile effect on
segment results. Among the other factors which may affect future
performance are: changes in business relationships with and purchases by or
from major customers or suppliers, including delays or cancellations in
shipments or significant changes in financial condition; uncertainties
surrounding timing, successful completion or integration of acquisitions;
threats associated with and efforts to combat terrorism; uncertainties
surrounding the ultimate resolution of outstanding litigation; competitive
market conditions and resulting effects on sales and pricing; increases in
raw material costs that cannot be recovered in product pricing; the
company's ability to manage costs related to employee retirement and health
care benefits and insurance; and global economic factors, including
manufacturing activity, air travel trends, currency exchange rates,
difficulties entering new markets and general economic conditions such as
inflation, interest rates and credit availability. The company makes these
statements as of the date of this disclosure, and undertakes no obligation
to update them.
SOURCE Parker Hannifin Corporation
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Related links:
http://www.phstock.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media: Christopher M. Farage, Vice President,
Corp. Communications, +1-216-896-2750, cfarage@parker.com,
Financial Analysts: Pamela Huggins, Vice President and Treasurer,
+1-216-896-2240, phuggins@parker.com, both of Parker Hannifin
Corporation
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