Fastenal Co. (FAST) declared a special cash dividend of 42 cents
a share Tuesday, boosting its total payouts this year by more than
half.
The industrial-parts retailer said one-time dividend wouldn't
disrupt its twice-yearly regular dividend, which gave investors 82
cents a shares so far this year.
The company -- which sells fasteners, office products and
construction supplies--has seen its results improve in recent
quarters as the manufacturing sector revives, although sales in
nonresidential construction products have lagged behind its other
offerings. In its most recent quarterly results, profit jumped 58%
as revenue grew in both those divisions.
The special dividend will be paid on Dec. 6 to shareholders of
record as next Wednesday.
Fastenal shares closed Thursday up 0.9% at $52.03 and weren't
active after-hours. The stock has climbed 25% so far this year.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com