Board Of Directors Approves Quarterly Cash Dividend Increase To $0.81 Per Share
NEW BRITAIN, Conn., July 27, 2023 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK), a worldwide leader in tools and outdoor, announced today that its Board of Directors approved a $0.01 increase of its quarterly cash dividend to $0.81 per common share. The dividend is payable on Tuesday, September 19, 2023, to shareholders of record as of the close of business on Tuesday, September 5, 2023.
Stanley Black & Decker's President and CEO, Donald Allan, Jr., commented, "We are pleased to announce this dividend increase as our long-standing commitment to rewarding shareholders through growing cash dividends is a key element of our overall shareholder value proposition. This increase also demonstrates our confidence in the Company's transformation focused on accelerating long-term organic growth and margin expansion as well as generating significant free cash flow to enhance shareholder return."
About Stanley Black & Decker
Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in tools and outdoor operating manufacturing facilities worldwide. Guided by its purpose – for those who make the world – the company's more than 50,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders. To learn more visit: www.stanleyblackanddecker.com
Caution Concerning Forward-Looking Statements
This document contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding future operating and financial performance. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that Stanley Black & Decker expects or anticipates may occur in the future, including expectations around its ongoing transformation and future results of operation and financial position. You are cautioned not to rely on these forward-looking statements, which are based on current expectations of future events. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For important information about the risks and uncertainties that could cause actual results to vary materially from the assumptions, expectations, and projections expressed in any forward-looking statements, review Stanley Black & Decker's most recently filed reports on Form 10-K and Form 10-Q, including under the heading "Risk Factors," as well as our other reports filed with the SEC. Any forward-looking statement speaks only as of the date on which it is made, and Stanley Black & Decker does not undertake any obligation to update or release any revisions to any forward-looking statement as a result of new information or future events or developments.
Stanley Black & Decker Investor Contacts
Dennis Lange
Vice President, Investor Relations
dennis.lange [at] sbdinc.com (dennis[dot]lange[at]sbdinc[dot]com)
(860) 827-3833
Cort Kaufman
Senior Director, Investor Relations
cort.kaufman [at] sbdinc.com (cort[dot]kaufman[at]sbdinc[dot]com)
(860) 515-2741
Christina Francis
Director, Investor Relations
christina.francis [at] sbdinc.com (christina[dot]francis[at]sbdinc[dot]com)
(860) 438-3470
SOURCE Stanley Black & Decker