Donaldson Company, Inc. (NYSE: DCI), announced today that its Board of
Directors declared a regular cash dividend of $0.13 per share, payable
June 21st to Shareholders of record as of June 7th,
an increase of 30 percent from the prior payout of $0.10 per share. The
Company increased its dividend policy to pay out 30 to 40 percent of the
prior three years' average EPS.
"We first established our dividend payout policy using financial metrics
in the 1980s to make our dividend payout increases more consistent. This
has resulted in 27 consecutive years of dividend increases," said Bill
Cook, Donaldson's CEO. "As we have continued to grow, our ability to
consistently pay a higher percentage of earnings has likewise increased.
Based on our regular review of our Strategic Growth Plan and our
dividend and share repurchase policies, we decided to increase our
dividend payout. Our updated dividend payout policy, combined with our
longstanding practice of repurchasing an average of 2 percent of our
outstanding shares each year, firmly demonstrates our commitment of
returning a high percentage of our earnings to our Shareholders while
continuing to grow our Company's sales and earnings."
The current declaration is the 231st consecutive quarterly
cash dividend paid by Donaldson over a time span of 57 years.
About Donaldson Company, Inc.
Donaldson is a leading worldwide provider of filtration systems that
improve people's lives, enhance our Customers' equipment performance,
and protect our environment. We are a technology-driven Company
committed to satisfying our Customers' needs for filtration solutions
through innovative research and development, application expertise, and
global presence. Our approximately 12,500 employees contribute to the
Company's success by supporting our Customers at our more than 100
sales, manufacturing, and distribution locations around the world.
Donaldson is a member of the S&P MidCap 400 and Russell 1000 indices,
and our shares trade on the NYSE under the symbol DCI. Additional
information is available at www.donaldson.com.
Donaldson Company, Inc.
Rich Sheffer, 952-887-3753
May 22, 2013