Fastenal Company Announces Cash Dividend

WINONA, Minn., Oct. 8, 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 November 22, 2013 to shareholders of record at the close of business on October 25, 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. Including this declaration, we will have four quarterly dividend payments in 2013. They include dividends of $0.10 in February, $0.20 in May, $0.25 in August, and $0.25 in November. As previously disclosed, we lowered our February 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 our expanded vending rollout and distribution automation.

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:
          Total 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 Four 1  $ 237,434  $ 0.80  $ 0.80  $ 9,080  $ 45.40
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  $ —   $ — 

1The total dividends paid amount includes the estimated impact from this announcement. The estimate is calculated using the 296.9 million shares outstanding at June 30, 2013. 2There 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.

If you liked this article you might like

Why You Must Immediately Short Amazon, Starbucks, Disney and 3 Other Stocks

Why You Should Short Amazon, Starbucks, Disney and These Other Stocks

No Good Stock Left Behind: Cramer's 'Mad Money' Recap (Tuesday 7/25/17)

Hertz Global Holdings, Honeywell, PetMed Express, Allergan: 'Mad Money' Lightning Round

Why Fastenal May Be One of the Best Second-Half Buys