Rise of the Special Dividend
11/26/2012 2:42:00 AM
FEATURE
Fastenal dividend chart
How well are public fastener companies doing in 2012?
So well that at least two are paying a special dividend for the first time in recent memory.
And the companies couldn’t be more different.
One is closely watched by both investors and industry executives, while another has quietly been crafting its recovery since the global economic meltdown in 2008.
Fastenal Co. draws continual praise for its consistently strong performance. Its pioneering industrial vending machine program is a media darling, drawing continual coverage as it drives company expansion.
Recently Fastenal declared a special one-time dividend of $0.50 per share to be paid in cash on December 21. The one-time dividend marks the first time in more than a decade that Fastenal has announced an additional payout to investors, and is in addition to the company’s standard fourth quarter dividend of $0.21 scheduled for late November.
Days after marking three years of consecutive quarterly increases in fastener sales, Chicago Rivet & Machine Co. declared an extra dividend of $.30 per share, payable December 20, 2012.
That one-time payment is on top of Chicago Rivet’s regular quarterly dividend of $.15 per share, payable December 20, 2012, to shareholders of record at the close of business on December 5, 2012.
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