CLEVELAND, Oct. 28 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors has declared a regular quarterly cash dividend of 25 cents per share of common stock to shareholders of record as of November 19, 2009. The dividend is payable December 4, 2009.
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The company noted that its ability to generate strong cash flow despite the impact of the global recession, including operating cash flow as a percentage of revenues of 11.6 percent in the first quarter of fiscal year 2010, gives it the financial flexibility to continue to reward shareholders through a dividend payment. This is the company's 238th consecutive quarterly dividend and comprises a distribution of approximately $40 million. Parker has increased its annual dividends paid to shareholders for 53 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 Index.
With annual sales exceeding $10 billion in fiscal year 2009, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 52,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 53 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at http://www.parker.com, or its investor information site at http://www.phstock.com.
SOURCE Parker Hannifin Corporation
Media: Christopher M. Farage, Vice President, Communications & External Affairs
Financial Analysts: Pamela Huggins, Vice President & Treasurer