CLEVELAND, Oct. 24 /PRNewswire-FirstCall/ -- The Board of Directors of
Parker Hannifin Corporation (NYSE: PH) today declared a regular quarterly
cash dividend of 21 cents per share of common stock to shareholders of
record as of November 15, 2007. The dividend is payable November 30, 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
This is Parker's 230th consecutive quarterly dividend and comprises a
distribution of approximately $35 million. Parker has increased its annual
dividends paid to shareholders for 51 consecutive years, among the top five
longest-running dividend-increase records in the S&P 500 index.
With annual sales exceeding $10 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
commercial, mobile, industrial and aerospace markets. The company employs
more than 57,000 people in 43 countries around the world. 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 both its 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; 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:
NewsCom: 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, or
Financial Analysts, Pamela Huggins, Vice President - Treasurer,
+1-216-896-2240, phuggins@parker.com, both of Parker Hannifin
Corporation
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