RPM Increases Cash Dividend for 46th Consecutive Year
October 03 2019 - 2:30PM
Business Wire
Quarterly
payment of $0.36 per share is 2.9% increase over prior
year
RPM International Inc. (NYSE:RPM) today announced at its annual
meeting of stockholders that its board of directors declared a
regular quarterly cash dividend of $0.36 per share, payable on
October 31, 2019, to stockholders of record as of October 15, 2019.
This payment represents a 2.9 percent increase over the $0.35
quarterly cash dividend paid at this time last year.
This action marks RPM’s 46th
consecutive year of increased cash dividends paid to its
stockholders, which places RPM in an elite category of less than
half of 1 percent of all publicly traded U.S. companies. Only 41
other companies, besides RPM, have consecutively paid an increasing
annual dividend for this period of time or longer, according to the
Mergent Handbook of Dividend Achievers. During this timeframe, the
company has returned approximately $2.4 billion in cash dividends
to its stockholders. At a share price of $67.00, RPM's
dividend yield would be 2.1
percent.
“Increasing our cash dividend
on an annual basis is one of the principal ways we reward our
shareholders,” stated Frank C. Sullivan, RPM chairman and chief
executive officer. “Combined with an appreciating stock price,
increasing the dividend enables us to consistently deliver
long-term growth and outperform the cumulative total return of the
broader market.”
At the meeting, four directors
were elected to serve in Class I with three-year terms expiring at
the annual meeting of stockholders in 2022. They included Kirkland
B. Andrews, executive vice president and chief financial officer of
NRG Energy, Inc.; David A. Daberko, retired chairman and chief
executive officer, National City Corporation, now a part of PNC
Financial Services Group, Inc.; Thomas S. Gross, retired vice
chairman and chief operating officer for the Electrical Sector of
Eaton Corporation plc and Frank C. Sullivan.
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services. The company operates across four reportable segments:
consumer, construction products, performance coatings and specialty
products. RPM has a diverse portfolio with hundreds of
market-leading brands, including Rust-Oleum, DAP, Zinsser,
Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and
Dryvit. From homes and workplaces, to infrastructure and precious
landmarks, RPM’s brands are trusted by consumers and professionals
alike to help build a better world. The company employs
approximately 15,000 individuals worldwide. Visit www.RPMinc.com to
learn more.
For more information, contact
Russell L. Gordon, vice president and chief financial officer, at
330-273-5090 or rgordon@rpminc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191003005242/en/
Russell L. Gordon Vice President and Chief Financial Officer
330-273-5090 rgordon@rpminc.com
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