CLEVELAND, Oct. 27, 2015 /PRNewswire/ -- Lincoln Electric
Holdings, Inc., (Nasdaq: LECO) announced today that its Board of
Directors has approved a 10.3% increase in the quarterly cash
dividend, from $0.29 per share to
$0.32 per share, or to $1.28 per share on an annualized basis. The
declared quarterly cash dividend of $0.32 per common share is payable January 15, 2016 to shareholders of record as of
December 31, 2015.
"The dividend increase combined with our share repurchase
program reflects confidence in our cash flow generation and solid
execution of our '2020 Vision and Strategy,'" stated Christopher L. Mapes, Chairman and Chief
Executive Officer. "Today's announcement reflects a 94%
increase in the dividend payout rate over the last five years and
demonstrates our commitment to return cash to shareholders while
continuing to invest in profitable, long-term growth through the
economic cycle."
About Lincoln Electric
Lincoln Electric is the world leader in the design, development
and manufacture of arc welding products, robotic arc welding
systems, plasma and oxy-fuel cutting equipment and has a leading
global position in the brazing and soldering alloys market.
Headquartered in Cleveland, Ohio,
Lincoln has 47 manufacturing locations, including operations and
joint ventures in 19 countries and a worldwide network of
distributors and sales offices covering more than 160
countries. For more information about Lincoln Electric and
its products and services, visit the Company's website at
http://www.lincolnelectric.com.
Forward-Looking Statements
The Company's expectations and beliefs concerning the future
contained in this news release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements reflect management's current
expectations and involve a number of risks and uncertainties.
Forward-looking statements generally can be identified by the use
of words such as "may," "will," "expect," "intend," "estimate,"
"anticipate," "believe," "forecast," "guidance" or words of similar
meaning. Actual results may differ materially from such
statements due to a variety of factors that could adversely affect
the Company's operating results. The factors include, but are
not limited to: general economic and market conditions; the
effectiveness of operating initiatives; interest rates;
disruptions, uncertainty or volatility in the credit markets that
may limit our access to capital; currency exchange rates and
devaluations, including in highly inflationary countries such as
Venezuela; adverse outcome of
pending or potential litigation; actual costs of the Company's
rationalization plans; possible acquisitions; market risks and
price fluctuations related to the purchase of commodities and
energy; global regulatory complexity; and the possible effects of
events beyond our control, such as political unrest, acts of terror
and natural disasters, on the Company or its customers, suppliers
and the economy in general. For additional discussion, see
"Item 1A. Risk Factors" in the Company's Annual Report on
Form 10-K.
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SOURCE Lincoln Electric Holdings, Inc.