Snap-on Raises Dividend 15.1%

Quarterly Dividend Increases to $0.61 per Share

KENOSHA, Wis. - (BUSINESS WIRE) - Nov. 9, 2015 - Snap-on Incorporated (NYSE:SNA) announced that its Board of Directors has declared a quarterly common stock dividend of $0.61 per share payable December 10, 2015, to shareholders of record on November 24, 2015. This represents an increase of $0.08 per share, or 15.1%, over Snap-on's previous quarterly dividend of $0.53 per share.

“Snap-on’s dividend is an essential component of our approach to capital allocation, as demonstrated by our payment of consecutive quarterly cash dividends, without interruption or reduction, since 1939,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “This dividend increase reinforces our commitment to create long-term value for our shareholders and reflects both the continued progress along our defined runways for coherent growth and the ongoing improvements realized from our Snap-on Value Creation Processes.”

About Snap-on

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products. Products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.3 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

Forward-looking Statements

Statements in this news release that are not historical facts, including statements that (i) are in the future tense; (ii) include the words “expects,” “anticipates,” “intends,” “approximates,” or similar words that reference Snap-on or its management; (iii) are specifically identified as forward-looking; or (iv) describe Snap-on’s or management’s future outlook, plans, estimates, objectives or goals, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Snap-on cautions the reader that this news release may contain statements, including earnings projections, that are forward-looking in nature and were developed by management in good faith and, accordingly, are subject to risks and uncertainties regarding Snap-on’s expected results that could cause (and in some cases have caused) actual results to differ materially from those described or contemplated in any forward-looking statement. Factors that may cause the company’s actual results to differ materially from those contained in the forward-looking statements include those found in the company’s reports filed with the Securities and Exchange Commission, including the information under the “Safe Harbor” and “Risk Factors” headings in its Annual Report on Form 10-K for the fiscal year ended January 3, 2015, which are incorporated herein by reference. Snap-on disclaims any responsibility to update any forward-looking statement provided in this news release, except as required by law.

For additional information, please visit www.snapon.com.

SOURCE Snap-on Incorporated

Contacts:

Leslie Kratcoski
Investor Relations
Snap-on Incorporated
262-656-6121

Richard Secor
Media Relations
Snap-on Incorporated
262-656-5561

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Sky Zone
Sky Zone created, built and franchises the first of its kind wall-to-wall trampoline playing courts with unlimited purposes and endless possibilities.
Golden Corral Buffet and Grill
Golden Corral is the nation's leading family style restaurant franchise featuring steaks, buffet and bakery items.
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...
Fantastic Sams
Fantastic SamsĀ® is one of the most recognized brands in the hair care industry with nearly 1,200 full-service salons in North America and 40 years...
Firehouse Subs
We are currently looking for hard-working, dedicated people to become Area Representatives in markets throughout the United States.

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)