NEW BRITAIN, Conn.--(BUSINESS WIRE)--Jul. 18, 2012--
Stanley Black & Decker (NYSE: SWK) announced today that its Board of
Directors approved a 20% increase of its quarterly cash dividend to
$0.49 per common share. This marks the 45th consecutive annual dividend
increase for the company. The dividend is payable on Tuesday, September
18, 2012 to shareholders of record as of the close of business on
Friday, September 7, 2012.
The Board of Directors also approved a new share repurchase program of
up to 20 million shares of the company’s common stock, or $1.2 billion,
using the current stock price. Repurchases will be made in accordance
with applicable securities laws from time to time in open market or
private transactions, depending on market conditions, and may be
discontinued at any time.
Stanley Black & Decker’s President and CEO, John F. Lundgren, commented, “Returning
cash to our shareholders continues to be a significant component of our
capital allocation strategy. The 20% dividend increase and share
repurchase program we announced today reflects our sensitivity to
shareholder value creation and confidence in the cash generation
potential of the company for both the near term and the future. These
actions, partnered with our proven ability to operate, acquire,
integrate and successfully grow businesses, are core to our shareholder
value proposition.”
Stanley Black & Decker, an S&P 500 company, is a diversified global
provider of hand tools, power tools and related accessories, mechanical
access solutions and electronic security solutions, engineered fastening
systems, and more. Learn more at www.stanleyblackanddecker.com.
Source: Stanley Black & Decker
Stanley Black & Decker
Kate White Vanek, 860-827-3833
Vice
President, Investor Relations
kate.vanek@sbdinc.com
