Snap-on Raises Quarterly Dividend 11.8% to $0.38
Snap-on Incorporated (NYSE: SNA) today announced that its Board of Directors has declared a quarterly common stock dividend of $0.38 per share payable December 10, 2012, to shareholders of record on November 19, 2012. This represents an increase of $0.04 per share, or 11.8%, over Snap-on's previous quarterly dividend of $0.34 per share.
“This quarterly dividend increase demonstrates our ongoing commitment to create long-term value for our shareholders. It reflects Snap-on's progress along our defined runways for continuous improvement and coherent growth, and our belief that Snap-on is well-positioned for the future,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “Snap-on's dividend is an integral component of our approach to capital allocation, as demonstrated by our payment of consecutive quarterly cash dividends, without interruption or reduction, since 1939.”
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