MELVILLE, N.Y. and DAVIDSON, N.C., Dec. 15,
2023 /PRNewswire/ -- MSC Industrial Supply Co.
(NYSE: MSM), a premier distributor of Metalworking and Maintenance,
Repair and Operations (MRO) products and services to industrial
customers throughout North
America, today announced that its Board of Directors has
declared a cash dividend of $0.83 per
share. The $0.83 dividend is payable
on January 23, 2024 to shareholders
of record at the close of business on January 9, 2024. The ex-dividend date is
January 8, 2024.
About MSC Industrial Supply Co.
MSC Industrial
Supply Co. (NYSE:MSM) is a leading North American distributor of a
broad range of metalworking and maintenance, repair and operations
(MRO) products and services. We help our customers drive greater
productivity, profitability and growth with approximately 2.4
million products, inventory management and other supply chain
solutions, and deep expertise from more than 80 years of working
with customers across industries. Our experienced team of more than
7,000 associates works with our customers to help drive results for
their businesses - from keeping operations running efficiently
today to continuously rethinking, retooling and optimizing for a
more productive tomorrow. For more information on MSC Industrial,
please visit mscdirect.com.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute "forward-looking
statements" under the Private Securities Litigation Reform Act of
1995. All statements, other than statements of present or
historical fact, that address activities, events or developments
that we expect, believe or anticipate will or may occur in the
future, including statements about results of operations and
financial condition, expected future results, expected benefits
from our investment and strategic plans and other initiatives, and
expected future growth, profitability and return on invested
capital, are forward-looking statements. The words "will," "may,"
"believes," "anticipates," "thinks," "expects," "estimates,"
"plans," "intends," and similar expressions are intended to
identify forward-looking statements. Forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those anticipated by these forward-looking
statements. In addition, statements which refer to expectations,
projections or other characterizations of future events or
circumstances, statements involving a discussion of strategy, plans
or intentions, statements about management's assumptions,
projections or predictions of future events or market outlook and
any other statement other than a statement of present or historical
fact are forward-looking statements. The inclusion of any statement
in this press release does not constitute an admission by MSC or
any other person that the events or circumstances described in such
statement are material. In addition, new risks may emerge from time
to time and it is not possible for management to predict such risks
or to assess the impact of such risks on our business or financial
results. Accordingly, future results may differ materially from
historical results or from those discussed or implied by these
forward-looking statements. Given these risks and uncertainties,
the reader should not place undue reliance on these forward-looking
statements. These risks and uncertainties include, but are not
limited to, the following: general economic conditions in the
markets in which we operate; changing customer and product mixes;
volatility in commodity and energy prices, the impact of prolonged
periods of low, high and rapid inflation, and fluctuations in
interest rates; competition, including the adoption by competitors
of aggressive pricing strategies and sales methods; industry
consolidation and other changes in the industrial distribution
sector; our ability to realize the expected benefits from our
investment and strategic plans, including our transition from being
a spot-buy supplier to a mission-critical partner to our customers;
our ability to realize the expected cost savings and benefits from
our restructuring activities and structural cost reductions; the
retention of key personnel; the credit risk of our customers,
higher inflation and fluctuations in interest rates; the risk of
customer cancellation or rescheduling of orders; difficulties in
calibrating customer demand for our products, which could cause an
inability to sell excess products ordered from manufacturers
resulting in inventory write-downs or could conversely cause
inventory shortages of such products; work stoppages, labor
shortages or other business interruptions (including those due to
extreme weather conditions) at transportation centers, shipping
ports, our headquarters or our customer fulfillment centers;
disruptions or breaches of our information technology systems, or
violations of data privacy laws; the retention of qualified sales
and customer service personnel and metalworking specialists; the
risk of loss of key suppliers or contractors or key brands or
supply chain disruptions, including due to import restrictions or
global geopolitical conditions; changes to governmental trade or
sanctions policies, including the impact from significant import
restrictions or tariffs or moratoriums on economic activity with
certain countries or regions; risks related to opening or expanding
our customer fulfillment centers; our ability to estimate the cost
of healthcare claims incurred under our self-insurance plan;
litigation risk due to the nature of our business; risks associated
with the integration of acquired businesses or other strategic
transactions; financial restrictions on outstanding borrowings; our
ability to maintain our credit facilities or incur additional
borrowings on terms we deem attractive; the failure to comply with
applicable environmental, health and safety laws and regulations,
and other laws applicable to our business; the outcome of
government or regulatory proceedings or future litigation; goodwill
and intangible assets recorded resulting from our acquisitions
could be impaired; our common stock price may be volatile due to
factors outside of our control; the significant influence that our
principal shareholders continue to exercise over us, which may
result in our taking actions or failing to take actions which our
other shareholders do not prefer; the outcome of any legal
proceedings that may be instituted against us or others relating to
the share reclassification; our ability to realize the expected
benefits from the share reclassification; and the effect of the
announcement or the consummation of the share reclassification on
the market price of our common stock. Additional information
concerning these and other risks is described under "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" in our Annual and Quarterly Reports on
Forms 10-K and 10-Q, respectively, and in the other reports and
documents that we file with the United States Securities and
Exchange Commission. We expressly disclaim any obligation to update
any of these forward-looking statements, except to the extent
required by applicable law.
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SOURCE MSC Industrial Supply Co.