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The Eastern Company (NASDAQ-EML) today announced a 11% increase to its regular quarterly cash dividend from nine cents ($0.09) per share to ten cents ($0.10) per share payable March 15, 2012, to common stock shareholders of record as of February 22, 2012. This dividend represents the Company’s 286th consecutive quarterly dividend.
Mr. Leganza Chairman, President and CEO stated “The increased dividend reflects our positive and continued confidence in the strengths of the markets we serve and the financial strength of our Company. As we recover from the slow down in the economy, we would like to share the results of that confidence with our shareholders.”
The Eastern Company is a 153-year-old manufacturer of vehicular and industrial hardware, locks, metal castings, coin collection and smart card products. It operates from eleven locations in the U.S., Canada, Mexico, Taiwan and China. The diversity of the Company’s products enables it to respond to the changing requirements of a broad array of markets.
Forward-Looking Statements: Information in this news release contains statements which reflect the Company’s current expectations regarding its future operating performance and achievements. Actual results may differ due to the many economic uncertainties that affect the Company’s business environment. Further information about the potential factors which could affect the Company’s financial results is included in the Company’s reports and filings with the Securities and Exchange Commission. The Company is not obligated to update or revise the aforementioned statements for those new developments.