CLEVELAND, April 19, 2018 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors has increased the company’s regular quarterly cash dividend to 76 cents per share of common stock. The dividend is payable June 1, 2018 to shareholders of record as of May 10, 2018. This represents a 15% increase over the previous quarterly cash dividend of 66 cents per common share and is the company's 272nd consecutive quarterly dividend.
"This increase in our quarterly dividend reflects the Board’s confidence in our consistent cash flow generation and long-term outlook,” said Executive Vice President, Finance and Administration & CFO Cathy Suever. “Maintaining our dividend increase record, now at 62 consecutive fiscal years and among the top five longest-running dividend-increase records in the S&P 500 Index, remains a top priority for capital allocation.”
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For 100 years the company has engineered the success of its customers in a wide range of diversified industrial and aerospace markets. Learn more at www.parker.com or @parkerhannifin.
Aidan Gormley, Director, Global Communications and Branding
Financial Analysts –
Robin J. Davenport, Vice President, Corporate Finance
Source: Parker-Hannifin Corporation