Lincoln Electric Board Approves 17.6% Dividend Increase and Accelerates Quarterly Payment Date
-- Quarterly dividend increased $0.03 to $0.20 per share
-- Record date, December 17, 2012; payable December 28, 2012
CLEVELAND, Dec. 5, 2012 /PRNewswire/ -- The Board of Directors of Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has approved a 17.6% increase in the quarterly cash dividend, from $0.17 per share to $0.20 per share, or $0.80 per share on an annualized basis.
Given the uncertainty of tax increases on dividends in 2013, the Directors also authorized moving the December dividend payment date up from January 2013 and declared a quarterly dividend of $0.20 per share, payable December 28, 2012, to holders of record as of December 17, 2012.
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 46 manufacturing locations, including operations and joint ventures in 20 countries and a worldwide network of distributors and sales offices covering more than 160 countries.
For more information about Lincoln Electric and its products and services, visit the Company's website at http://www.lincolnelectric.com.
SOURCE Lincoln Electric Holdings, Inc.