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Fastenal Company Announces Cash Dividend

WINONA, Minn., July 9, 2013 (GLOBE NEWSWIRE) -- The Fastenal Company of Winona, MN (Nasdaq:FAST) reported its Board of Directors declared a dividend of $0.25 per share to be paid in cash on August 23, 2013 to shareholders of record at the close of business on July 26, 2013.

Fastenal began paying an annual dividend in 1991, expanded to a semi-annual dividend in 2003, and then switched to a quarterly dividend in 2011. In 2012, we paid four quarterly dividends of $0.17 in February, $0.17 in May, $0.19 in August, $0.21 in November, and then paid a special supplemental dividend of $0.50 in December. Our dividend payment in the first quarter of 2013 (paid in February) was $0.10 per share. We lowered this dividend payment to partially replenish our cash reserves after the large supplemental dividend payment late in 2012 and to also prepare for the significant capital expenditures we expected in 2013 related to the expanded vending rollout and to distribution automation. Our dividend payment in the second quarter of 2013 (paid in May) was $0.20 per share.

Our Board of Directors intends to continue paying quarterly dividends, provided that any future determination as to payment of dividends will depend upon the financial condition and results of operations of the Company and such other factors as are deemed relevant by the Board of Directors, such as dividend tax rates.

Dividend and stock repurchase activity in the last ten years are as follows:
          value of Per share
    Total Dividends per share repurchased price of
  Dividend dividends Regular Total shares repurchased
Year payments paid (000's) dividend dividend (000's) shares
2013 Three 1 $163,215 $0.55 $0.55 $— $—
2012 Five 2 $367,306 $0.74 $1.24 $— $—
2011 Four $191,741 $0.65 $0.65 $— $—
2010 Three 2 $182,814 $0.41 $0.62 $— $—
2009 Two $106,943 $0.36 $0.36 $41,104 $18.69
2008 Three 2 $117,474 $0.26 $0.395 $25,958 $22.00
2007 Two $66,216 $0.22 $0.22 $87,312 $20.93
2006 Two $60,548 $0.20 $0.20 $17,294 $18.25
2005 Two $46,935 $0.155 $0.155 $18,739 $13.38
2004 Two $30,350 $0.10 $0.10 $— $—
  1 The total dividends paid amount includes the estimated impact from this announcement. The estimate is calculated using the 296.9 million shares outstanding at the end of the previous quarter. 
  2 There was a supplemental dividend paid in December 2012, 2010, and 2008. 

All per share information reflects the two-for-one stock splits in both 2011 and 2005.

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