A. O. Smith Corporation Increases Quarterly Dividend to $.21 Per Share

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Jul 23, 2010, 08:30 ET

MILWAUKEE, July 23 /PRNewswire-FirstCall/ -- The A. O. Smith Corporation (NYSE: AOS) Board of Directors has approved an eight percent increase in the company's quarterly cash dividend to a rate of $.21 per share.

The dividend is payable on Aug. 16 to shareholders of record July 30.

"The stability provided by our 136 years in business, as well as our record operating performance and cash flow generation in 2009, give us the confidence to increase our dividend in what continues to be a fragile economic recovery," Paul W. Jones, chairman and chief executive officer, commented.

A. O. Smith has paid cash dividends on its stock every year since 1940. This is the eighth time in the last nine years that the company has increased its quarterly cash dividend.

A. O. Smith Corporation, with 2009 sales of $2.0 billion, is a global leader applying innovative technology and energy-efficient solutions to products marketed worldwide. The company is one of the world's leading manufacturers of residential and commercial water heating equipment, offering a comprehensive product line featuring the best-known brands in North America and China. A. O. Smith is also one of the largest manufacturers of electric motors for residential and commercial applications in North America.

SOURCE A. O. Smith Corporation