Stanley Black & Decker (SWK) will raise its quarterly dividend by 5.5 percent to $0.58 per share in 2016.
The increased dividend is payable on September 20, 2016 to shareholders of record at the close of business on September 2, 2016. The ex-date for his next dividend of 58 cents per share is August 31, 2016.
Stanley Black & Decker's Chairman and CEO, John F. Lundgren, commented, "It makes me extremely proud to think that over the past decade we have been able to double the quarterly cash dividend per share. We have always viewed our dividend as a cornerstone to our shareholder value proposition, and today's increase reflects our confidence in the continued cash generation potential of the company."
Stanley Black & Decker is a global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions and engineered fastening systems. Its brands include SIDCHROME, AeroScout, DEWALT, Newell Tools and Craftsman, Irwin, Lenox, Craftsman, BLACK+DECKER, SONITROL, Warren, GRIPCO, Porter-Cable, BOSTITCH and WanderGuard.