Quarterly Cash Dividend Increases to $0.38
KENOSHA, Wis.--(BUSINESS WIRE)--Nov. 1, 2012--
Snap-on Incorporated (NYSE: SNA) today announced that its Board of
Directors has declared a quarterly common stock dividend of $0.38 per
share payable December 10, 2012, to shareholders of record on November
19, 2012. This represents an increase of $0.04 per share, or 11.8%, over
Snap-on's previous quarterly dividend of $0.34 per share.
“This quarterly dividend increase demonstrates our ongoing commitment to
create long-term value for our shareholders. It reflects Snap-on’s
progress along our defined runways for continuous improvement and
coherent growth, and our belief that Snap-on is well-positioned for the
future,” said Nick Pinchuk, Snap-on chairman and chief executive
officer. “Snap-on’s dividend is an integral component of our approach to
capital allocation, as demonstrated by our payment of consecutive
quarterly cash dividends, without interruption or reduction, since 1939.”
About Snap-on
Snap-on Incorporated is a leading global innovator, manufacturer and
marketer of tools, equipment, diagnostics, repair information and
systems solutions for professional users performing critical tasks.
Products and services include hand and power tools, tool storage,
diagnostics software, information and management systems, shop equipment
and other solutions for vehicle dealerships and repair centers, as well
as for customers in industries, including aviation, aerospace,
agriculture, construction, government and military, mining, natural
resources and power generation. Products and services are sold through
the company’s franchisee, company-direct, distributor and internet
channels. Founded in 1920, Snap-on is a $2.9 billion, S&P 500 company
headquartered in Kenosha, Wisconsin.
Forward-looking Statements
Statements in this news release that are not historical facts,
including statements that (i) are in the future tense; (ii) include the
words “expects,” “anticipates,” “intends,” “approximates,” or similar
words that reference Snap-on or its management; (iii) are specifically
identified as forward-looking; or (iv) describe Snap-on’s or
management’s future outlook, plans, estimates, objectives or goals, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Snap-on cautions the reader that
this news release contains statements, including earnings projections,
that are forward-looking in nature and were developed by management in
good faith and, accordingly, are subject to risks and uncertainties
regarding Snap-on’s expected results that could cause (and in some cases
have caused) actual results to differ materially from those described or
contemplated in any forward-looking statement. Factors that may cause
the company’s actual results to differ materially from those contained
in the forward-looking statements include those found in the company’s
reports filed with the Securities and Exchange Commission, including the
information under the “Safe Harbor” and “Risk Factors” headings in its
Annual Report on Form 10-K for the fiscal year ended December 31, 2011,
which are incorporated herein by reference. Snap-on disclaims any
responsibility to update any forward-looking statement provided in this
news release, except as required by law.
For additional information, please visit www.snapon.com.
Source: Snap-on Incorporated
Snap-on Incorporated
Investors:
Leslie Kratcoski, 262/656-6121
or
Media:
Richard
Secor, 262/656-5561