Fastenal Company Announces Cash Dividend
July 10 2018 - 5:05PM
Fastenal Company (Nasdaq:FAST) reported its board of directors
declared a dividend of $0.40 per share to be paid in cash on
August 22, 2018 to shareholders of record at the close of
business on July 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:
Year |
|
FirstQuarter |
|
SecondQuarter |
|
ThirdQuarter |
|
FourthQuarter |
2018 |
|
$ |
0.37 |
|
$ |
0.37 |
|
$ |
0.40 |
|
|
2017 |
|
$ |
0.32 |
|
$ |
0.32 |
|
$ |
0.32 |
|
$ |
0.32 |
2016 |
|
$ |
0.30 |
|
$ |
0.30 |
|
$ |
0.30 |
|
$ |
0.30 |
Dividend and common stock purchase activity during the last ten
years:
|
|
|
|
|
|
|
|
|
Per Share |
|
|
Total |
Dividends per Share |
Total Value of |
Total Number |
|
|
Price of |
|
Dividend |
Dividends |
Regular |
Total |
Common Stock |
of Shares |
|
|
Common Stock |
Year |
Payments |
Paid |
Dividend |
Dividend |
Purchased |
Purchased |
|
|
Purchased |
2018
|
Three (1) |
|
$ |
327.5 |
|
|
$ |
1.14 |
|
|
$ |
1.14 |
|
$ |
40.4 |
800,000 |
|
|
$ |
50.51 |
|
2017 |
Four |
|
$ |
369.1 |
|
|
$ |
1.28 |
|
|
$ |
1.28 |
|
$ |
82.6 |
1,900,000 |
|
|
$ |
43.43 |
|
2016 |
Four |
|
$ |
346.6 |
|
|
$ |
1.20 |
|
|
$ |
1.20 |
|
$ |
59.5 |
1,600,000 |
|
|
$ |
37.15 |
|
2015 |
Four |
|
$ |
327.1 |
|
|
$ |
1.12 |
|
|
$ |
1.12 |
|
$ |
293.0 |
7,100,000 |
|
|
$ |
41.26 |
|
2014 |
Four |
|
$ |
296.6 |
|
|
$ |
1.00 |
|
|
$ |
1.00 |
|
$ |
52.9 |
1,200,000 |
|
|
$ |
44.12 |
|
2013 |
Four |
|
$ |
237.5 |
|
|
$ |
0.80 |
|
|
$ |
0.80 |
|
$ |
9.1 |
200,000 |
|
|
$ |
45.40 |
|
2012 |
Five(2) |
|
$ |
367.3 |
|
|
$ |
0.74 |
|
|
$ |
1.24 |
|
$ |
— |
— |
|
|
$ |
— |
|
2011 |
Four |
|
$ |
191.7 |
|
|
$ |
0.65 |
|
|
$ |
0.65 |
|
$ |
— |
— |
|
|
$ |
— |
|
2010 |
Three(2) |
|
$ |
182.8 |
|
|
$ |
0.41 |
|
|
$ |
0.62 |
|
$ |
— |
— |
|
|
$ |
— |
|
2009 |
Two |
|
$ |
106.9 |
|
|
$ |
0.36 |
|
|
$ |
0.36 |
|
$ |
41.1 |
2,200,000 |
|
|
$ |
18.69 |
|
(1) The total dividends paid amount
includes the estimated impact from this announcement. The estimate
is calculated using the 286.9 million shares outstanding at
June 30, 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.
About Fastenal
Fastenal helps customers simplify and realize
product and process savings across their supply chain. We sell a
broad offering of products spanning more than nine major product
categories, including fasteners, safety equipment and services,
tools, and general maintenance supplies. These products are
efficiently distributed to manufacturing facilities, job sites, and
other customer locations through local service teams and
point-of-use inventory solutions, including industrial vending
technology and bin stock programs (Fastenal Managed Inventory, or
FMI®). Our distribution system centers on over 3,000 public
branches and customer-specific Onsite locations, primarily in North
America but also in Asia, Europe, Central and South America, and
Africa, each providing tailored inventory, flexible service, and
custom solutions to drive the unique goals of local customers.
These in-market servicing locations are supported by 14 regional
distribution centers, a captive logistics fleet, robust sourcing,
quality and manufacturing resources, and multiple teams of industry
specialists and support personnel - all working toward Fastenal’s
common goal of Growth Through Customer Service®.
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
CONTACT: |
Ellen Stolts |
|
Financial Reporting
& Regulatory Compliance Manager |
|
507.313.7282 |
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