CLEVELAND, January 30, 2014 - Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors increased the company's regular quarterly cash dividend to 48 cents per share of common stock payable to shareholders of record as of February 10, 2014. The dividend is payable March 7, 2014. This represents a 7 percent increase over the previous quarterly dividend of 45 cents per common share and is the company's 255th consecutive quarterly dividend, resulting in a total distribution to shareholders of approximately $72 million.
"The strength of our financial position has allowed us to pursue our growth initiatives while still deploying capital to drive shareholder returns in the form of a consistently increasing dividend payout," said Jon Marten, Executive Vice President - Finance and Administration and Chief Financial Officer.
With annual sales of $13 billion in fiscal year 2013, 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 58,000 people in 49 countries around the world. Parker has increased its annual dividends paid to shareholders for 57 consecutive fiscal 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 www.parker.com, or its investor information web site at www.phstock.com.
Aidan Gormley, Director, Corporate Communications
Financial Analysts -
Pamela Huggins, Vice President & Treasurer