Applied Industrial Technologies Declares Quarterly Dividend and New Stock Repurchase Plan of up to 1.5M Shares

Applied Industrial Technologies

today announced that the Company's Board of Directors has declared a quarterly cash dividend of $0.19 per common share, payable on November 30, 2011, to shareholders of record on November 15, 2011. Additionally, Applied's Board of Directors today authorized the company to repurchase up to 1,500,000 shares of the company's common stock. This authorization replaces the previous one under which 1,492,400 shares were purchased through September 30, 2011. The new authorization represents approximately 3% of the shares currently outstanding. These purchases can be made in open market and negotiated transactions, from time-to-time, depending upon market conditions.