Fastenal Company Announces Cash Dividend
July 10 2008 - 4:38PM
PR Newswire (US)
WINONA, Minn., July 10 /PRNewswire-FirstCall/ -- The Fastenal
Company of Winona, MN (NASDAQ:FAST) reported its Board of Directors
declared a dividend of $.27 per share be paid in cash on August 29,
2008 to shareholders of record at the close of business on August
18, 2008. The Company expects that it will continue to pay a
comparable semi-annual cash dividend in the foreseeable future,
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. Recent activity regarding dividends and stock
repurchases are as follows: Total Per share Total Total value of
price dividend dividend repurchased of Dividends paid paid per
shares repurchased Year paid (000's) share (000's) shares 2008 Two
$77,489 $0.52 $8,944 $44.72 2007 Two $66,216 $0.44 $87,312 $41.86
2006 Two $60,548 $0.40 $17,294 $36.49 2005 Two $46,935 $0.31
$18,739 $26.75 2004 Two $30,350 $0.20 $- $- 2003 Two $15,935 $0.105
$- $- 2002 One $3,794 $0.025 $- $- 2001 One $3,415 $0.0225 $- $- *
Note: The 2008 dividend paid amounts include the impact from this
dividend announcement. The total dividend paid amount in 2008 has
been estimated using the number of shares outstanding on June 30,
2008. The 2008 shares repurchased information is as of June 30,
2008. All information reflects the 2-for-1 stock splits effected in
the form of a stock dividend in each of 2002 and 2005. 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; and metals, alloys and
materials. As of June 30, 2008, Fastenal operated 2,272 stores in
the United States (all 50 states), Canada (all provinces), Puerto
Rico (multiple), Mexico (14 states), Singapore (one location),
Netherlands (one location), and China (one location) selling to the
general public. The Company operates 13 distribution centers
located in Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia,
Washington, California, Utah, North Carolina, Kansas, Ontario,
Canada; and Nuevo Leon, Mexico. Additional information regarding
Fastenal Company is available on the Fastenal Company World Wide
Web site at http://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
comparable semi-annual 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 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 2007 annual report on Form
10-K under the section captioned "Risk Factors" and the Company's
2007 annual and 2008 quarterly reports under the section captioned
"Management's Discussion and Analysis of Financial Condition and
Results of Operations". FAST-D DATASOURCE: Fastenal Company
CONTACT: Jean DuBois, Executive Assistant, Investor Relations of
Fastenal Company, +1-507-454-5374 Web site:
http://www.fastenal.com/
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