Timken Increases Quarterly Dividend by 44 Percent

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May 11, 2010, 09:39 ET

CANTON, Ohio, May 11 /PRNewswire-FirstCall/ -- On the heels of a first-quarter report highlighting stronger financial performance and an improved outlook, the board of directors of The Timken Company (NYSE: TKR) today declared a quarterly cash dividend of 13 cents per share, an increase of four cents per share over the previous quarterly amount. The dividend is payable on June 2, 2010, to shareholders of record as of May 21, 2010. It will be the 352nd consecutive dividend paid on the common stock of the company.

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Chairman Ward J. "Tim" Timken, Jr., said, "The Timken Company is well-positioned for its next century of growth. The board's decision to increase the dividend signals our confidence in the company's future and our commitment to return greater value to shareholders."

About The Timken Company

The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning with innovative friction management and power transmission products and services, enabling our customers' machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 26 countries/territories and approximately 17,000 employees, Timken is Where You Turn® for better performance.

Media Contact: Lorrie Paul Crum, Manager – Global Media and Strategic Communications, Mail Code: GNW-37, 1835 Dueber Avenue, S.W., Canton, OH 44706 U.S.A., Telephone: (330) 471-3514, Mobile: (330) 224-5021, [email protected], or www.timken.com/media, Investor Contact: Steve Tschiegg, Director – Capital Markets and Investor Relations, Mail Code: GNE-26, 1835 Dueber Avenue, S.W., Canton, OH 44706 U.S.A., Telephone: (330) 471-7446, [email protected], or www.timken.com/investors

SOURCE The Timken Company