Snap-on Raises Dividend 13.7%
08 Novembro 2019 - 8:59AM
Business Wire
Quarterly Dividend Increases to $1.08 per
Share
Snap-on Incorporated (NYSE: SNA) announced that its Board of
Directors has declared a quarterly common stock dividend of $1.08
per share payable December 10, 2019 to shareholders of record on
November 20, 2019. This represents an increase of $0.13 per share,
or 13.7%, over Snap-on's previous quarterly dividend of $0.95 per
share.
“This tenth consecutive annual dividend increase confirms our
ongoing commitment to create long-term value for our shareholders
and our firm belief that Snap-on is well-positioned for the future.
Our inherent strategic and tactical strength, our solid financial
structure, and our cash generation enables us to both return
capital to our shareholders and to invest strategically along our
defined runways for growth and improvement,” said Nick Pinchuk,
Snap-on chairman and chief executive officer. “Snap-on’s dividend
is an essential component of our approach to capital allocation, as
demonstrated by our payment of consecutive quarterly cash
dividends, without interruption or reduction, since 1939.”
About Snap-on
Snap-on Incorporated is a leading global innovator, manufacturer
and marketer of tools, equipment, diagnostics, repair information
and systems solutions for professional users performing critical
tasks. Products and services include hand and power tools, tool
storage, diagnostics software, information and management systems,
shop equipment and other solutions for vehicle dealerships and
repair centers, as well as for customers in industries, including
aviation and aerospace, agriculture, construction, government and
military, mining, natural resources, power generation and technical
education. Snap-on also derives income from various financing
programs to facilitate the sales of its products and support its
franchise business. Products and services are sold through the
company’s franchisee, company-direct, distributor and internet
channels. Founded in 1920, Snap-on is a $3.7 billion, S&P 500
company headquartered in Kenosha, Wisconsin.
Forward-looking
Statements
Statements in this news release that are not historical facts,
including statements that (i) are in the future tense; (ii) include
the words “expects,” “anticipates,” “intends,” “approximates,” or
similar words that reference Snap-on or its management; (iii) are
specifically identified as forward-looking; or (iv) describe
Snap-on’s or management’s future outlook, plans, estimates,
objectives or goals, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Snap-on cautions the reader that this news release may contain
statements, including earnings projections, that are
forward-looking in nature and were developed by management in good
faith and, accordingly, are subject to risks and uncertainties
regarding Snap-on’s expected results that could cause (and in some
cases have caused) actual results to differ materially from those
described or contemplated in any forward-looking statement.
Factors that may cause the company’s actual results to differ
materially from those contained in the forward-looking statements
include those found in the company’s reports filed with the
Securities and Exchange Commission, including the information under
the “Safe Harbor” and “Risk Factors” headings in its Annual Report
on Form 10-K for the fiscal year ended December 29, 2018, which are
incorporated herein by reference. Snap-on disclaims any
responsibility to update any forward-looking statement provided in
this news release, except as required by law.
For additional information, please visit www.snapon.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191108005243/en/
Investors: Sara Verbsky 262/656-4869
Media: Sam Bottum 262/656-5793
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