CANTON, Ohio, May 10, 2011 /PRNewswire/ -- Following The Timken Company's (NYSE: TKR) strong first-quarter financial results and improved outlook, Timken's board of directors today declared a quarterly cash dividend of 20 cents per share, an increase of 2 cents per share over the previous quarterly amount. The dividend is payable on June 2, 2011, to shareholders of record as of May 20, 2011. It is the 356th consecutive dividend to be paid on the common stock of the company.
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"The Timken Company continues to drive shareholder value through our share price and dividend," said Ward J. "Tim" Timken, Jr., chairman – board of directors, in making the announcement. "Timken's increased earning power provides the capacity for us to continue to grow the company and return more to our shareholders through higher dividends."
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) keeps the world turning with innovative friction management and power transmission products and services that are critical to help hard-working machinery to perform efficiently and reliably. With sales of $4.1 billion in 2010, and operations in 29 countries with approximately 20,000 people, Timken is Where You Turn® for better performance.
Contacts - Media: Lorrie Paul Crum, Ofc: 330.471.3514; Mob: 330.224.5021. lorrie.crum@timken.com; Investors: Steve Tschiegg, Ofc: 330.471.7446. steve.tschiegg@timken.com, The Timken Company.
SOURCE The Timken Company