MSA Increases Quarterly Dividend by 11 Percent

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May 08, 2019, 07:30 ET

PITTSBURGH, May 8, 2019 /PRNewswire/ -- The Board of Directors of MSA Safety Incorporated (NYSE: MSA) today declared a second quarter dividend of 42 cents per share on common stock, payable June 10, 2019 to shareholders of record on May 20, 2019. This represents an 11 percent increase from the previous quarterly dividend of 38 cents. MSA has increased its dividend annually for more than 50 consecutive years.

The Board also declared a dividend of 56-1/4 cents per share on preferred stock, payable June 1, 2019 to shareholders of record on May 20, 2019.

"Our continued focus on driving profitable growth, improving productivity, and generating higher levels of cash flow is what fuels our ability to invest in new product development and strategic acquisitions that help grow MSA's business," said Kenneth Krause, MSA Senior Vice President and Chief Financial Officer. "Moreover, it's the reason we're able to continue our decades-long legacy of returning value to shareholders through a dividend. Today's increase reflects that long-standing commitment, as well as the value of employing a balanced capital allocation strategy. With a healthy balance sheet and margin profile, I believe MSA is well positioned to continue creating value for our shareholders in 2019, and for many years to come," he said.

About MSA Safety

Established in 1914, MSA Safety Incorporated is the global leader in the development, manufacture and supply of safety products that protect people and facility infrastructures. Many MSA products integrate a combination of electronics, mechanical systems and advanced materials to protect users against hazardous or life-threatening situations. The company's comprehensive product line is used by workers around the world in a broad range of markets, including the oil, gas and petrochemical industry, the fire service, the construction industry, mining and the military. MSA's core products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, firefighter helmets and protective apparel, and fall protection devices. With 2018 revenues of $1.4 billion, MSA employs approximately 4,800 people worldwide. The company is headquartered north of Pittsburgh in Cranberry Township, Pa., and has manufacturing operations in the United States, Europe, Asia and Latin America. With more than 40 international locations, MSA realizes approximately half of its revenue from outside North America. For more information visit MSA's web site at www.MSAsafety.com.

SOURCE MSA Safety