MELVILLE, N.Y. and DAVIDSON, N.C., March 26,
2024 /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 April 23, 2024 to shareholders of
record at the close of business on April 9,
2024. The ex-dividend date is April
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 or rapid inflation, and fluctuations in
interest rates; competition, including the adoption by competitors
of aggressive pricing strategies or 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; our ability to realize the expected
cost savings and benefits from our restructuring activities and
structural cost reductions; the retention of key management
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 disruptions,
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;
our ability to attract, train and retain qualified sales and
customer service personnel and metalworking and specialty sales
specialists; the risk of loss of key suppliers or contractors or
key brands or supply chain disruptions; 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; goodwill and other
indefinite-lived intangible assets recorded as a result of our
acquisitions could become impaired; our common stock price may be
volatile due to factors outside of our control; the significant
influence that our principal shareholders will continue to have
over our decisions; and our ability to realize the desired benefits
from the share reclassification. 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.