RPM Increases Cash Dividend for 49th Consecutive Year
October 06 2022 - 3:00PM
Business Wire
- Quarterly payment of $0.42 per share is 5.0% 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 $0.42 per share, payable on
October 31, 2022, to stockholders of record as of October 17, 2022.
This payment represents a 5.0 percent increase over the $0.40
quarterly cash dividend paid at this time last year.
This action marks RPM’s 49th 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 U.S. companies, besides RPM, have
consecutively paid an increasing annual dividend for a longer
period of time, according to Dividend Radar. During this timeframe,
the company has returned approximately $3.1 billion in cash
dividends to its stockholders. At a share price of $84.00, RPM's
annual dividend yield would be 2.0 percent.
“The incredible efforts of RPM associates and their ability to
collaboratively address the challenges we’ve faced have enabled RPM
to continue to drive growth, at the same time we are achieving
greater operational efficiency across all our businesses,” stated
Frank C. Sullivan, RPM chairman and CEO. “We remain committed to
delivering sustainable, long-term value for our stockholders, and
our 49th consecutive year of increasing our dividend exemplifies
this commitment.”
At the meeting, four directors were re-elected to serve in Class
I with three-year terms expiring at the annual meeting of
stockholders in 2025. They included:
- Kirkland B. Andrews, executive vice president and chief
financial officer of Evergy Inc.
- General Ellen M. Pawlikowski, retired four-star general of the
United States Air Force
- Frank C. Sullivan, chairman and chief executive officer, RPM
International Inc.
- Elizabeth F. Whited, executive vice president – sustainability
and strategy of Union Pacific 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 of market-leading brands,
including Rust-Oleum, DAP, Zinsser, Varathane, DayGlo, 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 16,800 individuals
worldwide. Visit www.RPMinc.com to learn more.
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version on businesswire.com: https://www.businesswire.com/news/home/20221006005881/en/
Matt Schlarb, senior director – investor relations, at
330-220-6064 or mschlarb@rpminc.com.
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