|Print Page | Close Window|
|Barnes Group Inc. Increases Quarterly Dividend Ten Percent|
BRISTOL, Conn., Jul 20, 2005 (BUSINESS WIRE) -- The Board of Directors of Barnes Group Inc. (NYSE: B) today increased the Company's quarterly cash dividend 10 percent to 22 cents ($0.22) per share, from 20 cents ($0.20) per share. The dividend will be payable September 9, 2005, to shareholders of record at the close of business on August 30, 2005.
Barnes Group Inc. had previously paid a cash dividend at the annual rate of 80 cents ($0.80) per share. The increase raises the dividend on an annualized basis to 88 cents ($0.88) per share.
"Today's action by the Board of Directors reflects the strong financial position of our company as well as our commitment to increasing shareholder returns through balanced and sustainable profitable growth," said Edmund M. Carpenter, President and Chief Executive Officer, Barnes Group Inc.
Barnes Group Inc. and its predecessor companies have paid cash dividends to shareholders on a continuous basis since 1934.
Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal components and assemblies and a distributor of industrial supplies, serving a wide range of markets and customers. Founded in 1857 and headquartered in Bristol, Connecticut, Barnes Group consists of three businesses with 2004 sales of $994.7 million: Barnes Distribution, an international, full-service distributor of maintenance, repair, operating and production supplies; Associated Spring, one of the world's largest manufacturers of precision mechanical and nitrogen gas products and a global supplier of retaining rings, reed valves, shock disks, and injection-molded plastic components; and Barnes Aerospace, a manufacturer and repairer of highly engineered assemblies and components for commercial and military aircraft engines, airframes, and land-based industrial gas turbines. Over 5,900 dedicated employees at more than 60 locations worldwide contribute to Barnes Group Inc.'s success.
SOURCE: Barnes Group Inc.
Barnes Group Inc.