CANTON, Ohio, Feb 01, 2005 /PRNewswire-FirstCall via COMTEX/ -- The board of directors of The Timken Company (NYSE: TKR) today declared a quarterly cash dividend of 15 cents per share, an increase of 2 cents per share.
The dividend is payable on March 2, 2005 to shareholders of record as of February 18, 2005. It will be the 331st consecutive dividend paid on the common stock of the company.
Commenting on the dividend increase, Timken Chairman W.R. Timken, Jr., said: "Strategic actions, including the Torrington acquisition, have improved the company's earning power and financial performance. We are pleased to raise the dividend and deliver increased value for our shareholders."
The Timken Company (NYSE: TKR, www.timken.com) is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 27 countries. The company reported record sales of $4.5 billion in 2004 and employed approximately 26,000 at year-end.
CONTACT: Media: Denise Bowler, Manager - Communications Planning and
Integration, +1-330-471-3485, or Investor Contact: Kevin R. Beck, Manager -
Investor Relations, +1-330-471-7181, both of The Timken Company.
SOURCE The Timken Company
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