Fastenal Company Announces Cash Dividend
October 10 2019 - 5:05PM
Business Wire
Fastenal Company (Nasdaq:FAST) reported its board of directors
declared a dividend of $0.22 per share to be paid in cash on
November 22, 2019 to shareholders of record at the close of
business on October 25, 2019. 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, though all 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 at that time.
In 2019, 2018, and 2017, we paid (or declared) dividends as
follows:
First
Second
Third
Fourth
Year
Quarter
Quarter
Quarter
Quarter
2019
$
0.215
$
0.215
$
0.220
$
0.220
2018
$
0.185
$
0.185
$
0.200
$
0.200
2017
$
0.160
$
0.160
$
0.160
$
0.160
Dividend and common stock purchase activity during the last ten
years:
Average Per
Total
Dividends per Share
Total Value of
Total Number
Share Price of
Dividend
Dividends
Regular
Total
Common Stock
of Shares
Common Stock
Year
Payments
Paid
Dividend
Dividend
Purchased
Purchased
Purchased
2019
Four (1)
$
498.5
$
0.870
$
0.870
$
—
—
$
—
2018
Four
$
441.9
$
0.770
$
0.770
$
103.0
4,000,000
$
25.75
2017
Four
$
369.1
$
0.640
$
0.640
$
82.6
3,800,000
$
21.72
2016
Four
$
346.6
$
0.600
$
0.600
$
59.5
3,200,000
$
18.58
2015
Four
$
327.1
$
0.560
$
0.560
$
293.0
14,200,000
$
20.63
2014
Four
$
296.6
$
0.500
$
0.500
$
52.9
2,400,000
$
22.06
2013
Four
$
237.5
$
0.400
$
0.400
$
9.1
400,000
$
22.70
2012
Five(2)
$
367.3
$
0.370
$
0.620
$
—
—
$
—
2011
Four
$
191.7
$
0.325
$
0.325
$
—
—
$
—
2010
Three(2)
$
182.8
$
0.205
$
0.310
$
—
—
$
—
Ten Year Total
$
3,259.1
$
5.240
$
5.595
$
600.1
28,000,000
$
21.43
(1)
The total dividends paid amount includes
the estimated impact from this announcement. The estimate is
calculated using the 573.5 million shares outstanding at September
30, 2019.
(2)
There was a supplemental dividend paid in
December 2012 and 2010.
All share and per share information reflects the two-for-one
stock splits in both 2011 and 2019.
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 lines – from
fasteners and tools to safety and janitorial 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 3,200 in-market
locations (a combination of public branches and customer-specific
Onsite locations), primarily in North America but also in Asia,
Europe, and Central and South America, 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
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version on businesswire.com: https://www.businesswire.com/news/home/20191010005797/en/
Ellen Stolts Financial Reporting & Regulatory Compliance
Manager 507.313.7282
Fastenal (NASDAQ:FAST)
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