RPM Increases Cash Dividend for 48th Consecutive Year
October 07 2021 - 2:20PM
Business Wire
- Quarterly payment of $0.40 per share is 5.3% increase over
prior year
- Four Directors Re-Elected at Annual Meeting of
Stockholders
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
$0.40 per share, payable on October 29, 2021, to stockholders of
record as of October 18, 2021. This payment represents a 5.3
percent increase over the $0.38 quarterly cash dividend paid at
this time last year.
This action marks RPM’s 48th
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 $2.8 billion in cash dividends
to its stockholders. At a share price of $81.00, RPM's
dividend yield would be 2.0
percent.
“Increasing our cash dividend
on an annual basis is one of the primary ways we continuously
reward our shareholders,” stated Frank C. Sullivan, RPM chairman
and CEO. “Combined with an appreciating stock price, increasing the
dividend enables us to consistently deliver long-term value and
outperform the cumulative total return of the broader
market.”
At the meeting, four directors
were re-elected to serve in Class II with three-year terms expiring
at the annual meeting of stockholders in 2024. They included John
M. Ballbach, former chairman and CEO of VWR International, LLC;
Bruce A. Carbonari, retired chairman and CEO of Fortune Brands,
Inc.; Jenniffer D. Deckard, chief financial and administrative
officer of The Sisters of Notre Dame of the United States, and
former president and CEO of Covia Holdings Corporation; and
Salvatore D. Fazzolari, former chairman, president and CEO of
Harsco Corporation.
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 15,500 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/20211007005868/en/
Russell L. Gordon 330-273-5090 rgordon@rpminc.com
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