CANTON, Ohio, Nov. 9, 2010 /PRNewswire-FirstCall/ -- Following its third-quarter earnings release highlighting the Company's continued strong financial performance, the board of directors of The Timken Company (NYSE: TKR) today declared a quarterly cash dividend of 18 cents per share, an increase of five cents per share, or 38 percent, over the previous quarterly amount. This is the second time this year that the dividend has been increased. The dividend is payable on December 2, 2010, to shareholders of record as of November 22, 2010. It will be the 354th consecutive dividend paid on the common stock of the company.
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Chairman Ward J. "Tim" Timken, Jr., said, "The Timken Company continues to be well-positioned to capitalize on growth in our targeted markets. The dividend increase represents our continuing confidence in the company's future and our determination to return greater value to shareholders."
About The Timken Company
The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning with innovative friction management and power transmission products and services, enabling its customers' machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 27 countries/territories and approximately 17,000 employees, Timken is Where You Turn® for better performance.
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Media Contact: Christina Tharp |
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Manager – Brand Management & |
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Corporate Support |
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Mail Code: GNW-37 |
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1835 Dueber Avenue, S.W. |
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Canton, OH 44706 U.S.A. |
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Telephone: (330) 471-3294 |
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Mobile: (330) 284-0692 |
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christina.tharp@timken.com |
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Investor Contact: Steve Tschiegg |
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Director – Capital Markets and Investor Relations |
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Mail Code: GNE-26 |
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1835 Dueber Avenue, S.W. |
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Canton, OH 44706 U.S.A. |
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Telephone: (330) 471-7446 |
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steve.tschiegg@timken.com |
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SOURCE The Timken Company