WINONA, Minn., Oct. 10, 2016 (GLOBE NEWSWIRE) -- The Fastenal Company (the 'Company') of Winona, MN (Nasdaq:FAST) reported its board of directors declared a dividend of $0.30 per share to be paid in cash on November 22, 2016 to shareholders of record at the close of business on October 25, 2016.
Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011. Our board of directors intends to continue paying quarterly dividends, provided that any future determination as to payment of dividends will depend upon the financial condition and results of operations of the Company and such other factors as are deemed relevant by the board of directors, such as income tax rates related to dividends.
In 2016, 2015, and 2014, we paid (or declared) dividends as follows:
Dividend and stock purchase activity during the last ten years:
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(1) The total dividends paid amount includes the estimated impact from this announcement. The estimate is calculated using the 289.0 million shares outstanding at September 30, 2016.
(2) There was a supplemental dividend paid in December 2012, 2010, and 2008.
All share and per share information reflects the two-for-one stock split in 2011.
Fastenal sells different types of industrial and construction supplies in the following product categories: threaded fasteners and miscellaneous supplies; tools; metal cutting tool blades and abrasives; fluid transfer components and accessories for hydraulic and pneumatic power; material handling; storage and packaging products; janitorial, chemical and paint products; electrical supplies; welding supplies; safety supplies; metals, alloys and materials; and office supplies.
Fastenal operates approximately 2,500 stores located primarily in North America with additional locations in Asia, Europe, Central and South America, and Africa. The Company operates 14 distribution centers in North America; eleven in the United States - Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina, and Kansas, and three outside the United States - Ontario, Canada; Alberta, Canada; and Nuevo Leon, Mexico.
Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.
This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a quarterly cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the Company and such other factors as are deemed relevant by the board of directors. For example, a change in business needs including working capital and funding for acquisitions, or a change in income tax law relating to dividends, could cause the Company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the Company's filings with the SEC, including our most recent annual and quarterly reports. FAST-D
CONTACT: Ellen Trester Financial Reporting & Regulatory Compliance Manager 507.313.7282