CLEVELAND, Oct. 18, 2016 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc., (Nasdaq:LECO) announced today that its Board of Directors has approved a 9.4% increase in the quarterly cash dividend, from $0.32 per share to $0.35 per share, or to $1.40 per share on an annualized basis. The declared quarterly cash dividend of $0.35 per common share is payable January 13, 2017 to shareholders of record as of December 31, 2016.
“Today’s announcement marks our twenty-first consecutive year of dividend increases and represents a 75% increase in our dividend payout rate over the last five years,” stated Christopher L. Mapes, Chairman, President and Chief Executive Officer. “The increase reflects confidence in our cash flow generation and our commitment to return cash to shareholders while continuing to invest in the long-term success of the Company.”
About Lincoln Electric
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 48 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at http://www.lincolnelectric.com.
Contact Amanda Butler Director, Investor Relations Tel: 216.383.2534 Email: Amanda_Butler@lincolnelectric.com
Source:Lincoln Electric Holdings, Inc.