Parker Increases Quarterly Dividend 5 Percent to 39 Cents per Share
CLEVELAND, Jan. 26, 2012 /PRNewswire/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors increased the Company's regular quarterly cash dividend to 39 cents per share of common stock and declared a dividend payable March 2, 2012 to shareholders of record as of February 10, 2012. This represents a 5 percent increase over the previous quarterly dividend of 37 cents per common share and is the Company's 247th consecutive quarterly dividend, resulting in a total distribution to shareholders of approximately $59 million.
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"This increase reflects the Board's confidence in our financial strength and our continued ability to generate strong cash flows," said Jon Marten, Executive Vice President – Finance and Administration and Chief Financial Officer. "We have been able to deliver record financial performance during the first six months of fiscal year 2012, giving us the flexibility to demonstrate our commitment to our shareholders with a consistent and growing dividend payout."
With annual sales exceeding $12 billion in fiscal year 2011, 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 58,000 people in 47 countries around the world. Parker has increased its annual dividends paid to shareholders for 55 consecutive fiscal 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 www.parker.com, or its investor information web site at www.phstock.com.
SOURCE Parker Hannifin Corporation
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