Fastenal Company Announces Cash Dividend
November 18 2010 - 6:15PM
The Fastenal Company of Winona, MN (Nasdaq:FAST) reported its Board
of Directors declared a special one-time dividend of $0.42 per
share to be paid in cash on December 6, 2010 to shareholders of
record at the close of business on November 24, 2010. The Company
expects to resume its historical practice of paying a 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.
Dividend and stock repurchase activity in the last ten years are
as follows:
|
|
|
|
Dividends per share |
|
|
Year |
|
Dividends
paid |
Total dividends paid
(000's) |
Regular
dividend |
Total
dividend paid |
Total value
of repurchased shares (000's) |
Per share
price of repurchased shares |
|
|
|
|
|
|
|
|
2010 |
(1) |
Three |
$ 182,814 |
$ 0.82 |
$ 1.24 |
$ -- |
$ -- |
2009 |
|
Two |
$ 106,943 |
$ 0.72 |
$ 0.72 |
$ 41,104 |
$ 37.37 |
2008 |
(2) |
Three |
$ 117,474 |
$ 0.52 |
$ 0.79 |
$ 25,958 |
$ 43.99 |
2007 |
|
Two |
$ 66,216 |
$ 0.44 |
$ 0.44 |
$ 87,312 |
$ 41.86 |
2006 |
|
Two |
$ 60,548 |
$ 0.40 |
$ 0.40 |
$ 17,294 |
$ 36.49 |
2005 |
|
Two |
$ 46,935 |
$ 0.31 |
$ 0.31 |
$ 18,739 |
$ 26.75 |
2004 |
|
Two |
$ 30,350 |
$ 0.20 |
$ 0.20 |
$ -- |
$ -- |
2003 |
|
Two |
$ 15,935 |
$ 0.105 |
$ 0.105 |
$ -- |
$ -- |
2002 |
|
One |
$ 3,794 |
$ 0.025 |
$ 0.025 |
$ -- |
$ -- |
2001 |
|
One |
$ 3,415 |
$ 0.0225 |
$ 0.0225 |
$ -- |
$ -- |
|
|
|
|
|
|
|
|
(1) Note: The 2010
dividend paid amounts include the impact from this dividend
announcement. The total dividend paid amount in 2010 has been
estimated using the number of shares outstanding on October 19,
2010. The 2010 shares repurchased information is as of October 19,
2010. |
|
|
|
|
|
|
|
(2) The 2008 Dividend
includes two regular payments totaling $0.52 per share and a
supplemental dividend paid in December of $0.27 per share. |
|
|
|
|
|
|
|
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.
Additional information regarding Fastenal Company is available
on the Fastenal Company World Wide Web site at
www.fastenal.com.
The Fastenal Company logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6432
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's 2009 annual report on Form 10-K under the section
captioned "Risk Factors" and the Company's 2009 annual and 2010
quarterly reports under the section captioned "Management's
Discussion and Analysis of Financial Condition and Results of
Operations".
FAST-D
CONTACT: Fastenal Company
Dan Florness, EVP and Chief Financial Officer
507.454.5374
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