CLEVELAND, April 25, 2019 (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 88 cents per share of common stock to shareholders of record as of May 10, 2019. The dividend is payable June 7, 2019. This represents a 16% increase over the previous quarterly cash dividend of 76 cents per common share and is the company's 276th consecutive quarterly dividend.
"This increase in Parker’s quarterly dividend reflects the Board’s confidence in our ability to consistently generate strong free cash flow,” said Executive Vice President, Finance and Administration & CFO Cathy Suever. “Our performance gives us the financial flexibility to return value to our shareholders in the form of our long-standing record of increasing our annual dividend payout every year for the last 63 fiscal years.”
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than 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