Fastenal Company Announces Cash Dividend
10 Abril 2024 - 5:15PM
Business Wire
Fastenal Company (Nasdaq:FAST) reported its board of directors
declared a dividend of $0.39 per share to be paid in cash on May
23, 2024 to shareholders of record at the close of business on
April 25, 2024. Except for share and per share information, dollar
amounts are stated in millions.
We began paying annual dividends in 1991, semi-annual dividends
in 2003, and then expanded to quarterly dividends in 2011. In
addition to these regular dividend payments, Fastenal has
previously paid special one-time dividends in December 2008,
December 2012, December 2020, and December 2023. Our board of
directors currently intends to continue paying quarterly dividends,
though all future determination as to payment of dividends will
depend upon the financial condition and results of operations of
the company and such other factors as are deemed relevant by the
board of directors, such as income tax rates related to dividends
at that time.
In 2024, 2023, and 2022, we paid (or declared) dividends as
follows:
Year
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sub-Total
(Regular)
Fourth
Quarter
(Special)
Total
2024
$
0.39
$
0.39
2023
$
0.35
$
0.35
$
0.35
$
0.35
$
1.40
$
0.38
$
1.78
2022
$
0.31
$
0.31
$
0.31
$
0.31
$
1.24
$
0.00
$
1.24
Dividend and common stock purchase activity during the last ten
years:
Average Per
Total
Dividends per Share
Total Value of
Total Number
Share Price of
Dividend
Dividends
Regular
Special
Total
Common Stock
of Shares
Common Stock
Year
Payments
Paid
Dividend
Dividend
Dividend
Purchased
Purchased
Purchased
2024
Two (1)
$
446.5
$
0.78
$
—
$
0.78
$
—
—
$
—
2023
Five (2)
$
1,016.8
$
1.40
$
0.38
$
1.78
$
—
—
$
—
2022
Four
$
711.3
$
1.24
$
—
$
1.24
$
237.8
5,000,000
$
47.58
2021
Four
$
643.7
$
1.12
$
—
$
1.12
$
—
—
$
—
2020
Five (2)
$
803.4
$
1.00
$
0.40
$
1.40
$
52.0
1,600,000
$
32.54
2019
Four
$
498.6
$
0.87
$
—
$
0.87
$
—
—
$
—
2018
Four
$
441.9
$
0.77
$
—
$
0.77
$
103.0
4,000,000
$
25.75
2017
Four
$
369.1
$
0.64
$
—
$
0.64
$
82.6
3,800,000
$
21.72
2016
Four
$
346.6
$
0.60
$
—
$
0.60
$
59.5
3,200,000
$
18.58
2015
Four
$
327.1
$
0.56
$
—
$
0.56
$
293.0
14,200,000
$
20.63
Ten Year Total
$
5,605.0
$
8.98
$
0.78
$
9.76
$
827.9
31,800,000
$
26.03
(1) The Total Dividends Paid amount includes the estimated
impact from this announcement. The estimate is calculated using the
572.5 million shares outstanding at March 31, 2024.
(2) There was a supplemental dividend paid in December 2020 and
December 2023.
In the first quarter of 2024, we did not repurchase any of our
common stock.
We have authority to purchase up to 6,200,000 additional shares
of our common stock under the July 12, 2022 authorization. This
authorization does not have an expiration date.
All share and per share information reflects the two-for-one
stock split in 2019.
About Fastenal
Fastenal provides a broad offering of industrial supplies,
including fastener, safety, and metal cutting products, to
manufacturing, construction, and state and local government
customers through more than 3,400 in-market locations (branches and
customer-specific Onsite locations) spanning 25 countries. With
continual investment in tailored local inventory, dedicated local
experts, and flexible FMI® (Fastenal Managed Inventory) and digital
solutions, we help our business partners achieve product and
process savings across the supply chain – a "high-touch, high-tech"
approach encapsulated by our tagline, Where Industry Meets
Innovation™. Our local service teams are supported by 17
regional distribution centers, a captive logistics fleet, multiple
teams of industry specialists and support personnel, and robust
sourcing, quality, and manufacturing resources, enabling us to grow
by getting closer to customers and providing innovative and
comprehensive solutions to customer supply chain challenges.
Additional information regarding Fastenal is available on the
Fastenal Company website at www.fastenal.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are not historical
in nature and that are intended to be, and are hereby identified
as, "forward looking statements" as defined in the Private
Securities Litigation Reform Act of 1995, including a statement
regarding expectations as to payment of a quarterly cash dividend
in the foreseeable future. Any future determination as to payment
of dividends will depend upon the financial condition and results
of operations of the company and such other factors as are deemed
relevant by the board of directors. For example, a change in
business needs including working capital and funding for
acquisitions, or a change in income tax law relating to dividends
or stock repurchases, could cause the company to decide not to pay
a dividend in the future or not to repurchase common stock pursuant
to the existing share repurchase authorization. A discussion of
other risks and uncertainties is included in the company's filings
with the Securities and Exchange Commission, including our most
recent annual report and subsequent quarterly reports. FAST-D
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version on businesswire.com: https://www.businesswire.com/news/home/20240410287658/en/
Taylor Ranta Oborski Financial Reporting & Regulatory
Compliance Manager 507.313.7959
Fastenal (NASDAQ:FAST)
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