Bristol, Connecticut, April 12, 2000 --- The Board of Directors of Barnes Group Inc. (NYSE: B) today increased the company's quarterly cash dividend five percent to 20 cents ($0.20) per share. The dividend will be payable June 9, 2000, to shareholders of record at the close of business on May 31, 2000.
Barnes Group Inc. had previously paid a cash dividend at the annual rate of 76 cents ($0.76) per share. Today's increase raises the annual dividend to 80 cents ($0.80) per share.
"Today's action by the Board of Directors reflects the strong financial position of our company, and reaffirms our commitment to delivering long-term value for our shareholders," said Edmund M. Carpenter, Barnes Group Inc.'s chief executive officer.
Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. Founded in 1857, Barnes Group consists of three separate businesses with 1999 sales of $622 million. Barnes Group employs approximately 4,000 people at 42 locations worldwide.