WINONA, Minn., April 10, 2018 (GLOBE NEWSWIRE) -- Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.37 per share to be paid in cash on May 23, 2018 to shareholders of record at the close of business on April 25, 2018. Except for share and per share information, dollar amounts are stated in millions.
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 2018, 2017, and 2016, we paid (or declared) dividends as follows:
Dividend and common stock purchase activity during the last ten years:
|Total||Dividends per Share||Total Value of||Total Number||Price of|
|Dividend||Dividends||Regular||Total||Common Stock||of Shares||Common Stock|
(1) The total dividends paid amount includes the estimated impact from this announcement. The estimate is calculated using the 287.7 million shares outstanding at March 31, 2018.
(2) There was a supplemental dividend paid in December 2012 and 2010.
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.
The company operates more than 3,000 in-market locations, including more than 2,300 branches and approximately 700 Onsite locations, located primarily in North America, with additional locations in Asia, Europe, Central and South America, and Africa. We supplement these locations with point-of-use replenishment solutions such as industrial vending and bin stocks (Fastenal Managed Inventory, or FMI®). These local channels are supported by 14 distribution centers spanning North America: eleven in the United States (Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina, and Kansas) and three outside the U.S. (Ontario, Canada; Alberta, Canada; and Nuevo León, 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
|Financial Reporting & Regulatory Compliance Manager|