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|Barnes Group Inc. Declares Quarterly Dividend|
|BRISTOL, Conn., Jul 22, 2009 (BUSINESS WIRE) -- The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a
quarterly cash dividend of 8 cents ($0.08) per share. This is a
reduction from the 16-cent dividend paid for the last four quarters. The
dividend will be payable September 10, 2009, to shareholders of record
at the close of business on August 31, 2009.
"This action by our Board today will strengthen our capital structure, enable the Company to pay down debt, and position us for investments for our future growth. Barnes Group has a long history of returning cash to stockholders, having paid a dividend every year since 1934. Reducing our dividend in this adverse economic environment allows Barnes Group to strengthen our balance sheet while providing our stockholders with a competitive dividend yield," said Greg Milzcik President and Chief Executive Officer, Barnes Group Inc.
Barnes Group Inc. (NYSE:B) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. Founded in 1857, 5,000 dedicated employees at more than 60 locations worldwide are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.
SOURCE: Barnes Group Inc.
Barnes Group Inc.