CHICAGO, April 27, 2011 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) announced today that its board of directors voted to raise the quarterly cash dividend by 22 percent to 66 cents per share payable on June 1, 2011, to shareholders of record on May 9, 2011. Grainger has provided 40 consecutive years of increased dividends, a record that only 12 companies in the S&P 500 can claim.
"We are very proud of reaching this 40 year milestone, which places Grainger in a very elite group of companies. This achievement further supports our intention to reward long-term shareholders. We are committed to providing top quartile returns to our investors, and our dividend is an important and consistent part of the equation," said Grainger Chairman, President and Chief Executive Officer Jim Ryan. In 2010, Grainger delivered a total shareholder return of 45 percent versus 15 percent for the S&P 500.
W.W. Grainger, Inc., with 2010 sales of $7.2 billion, is North America's leading broad line supplier of maintenance, repair and operating products, with an expanding presence in Asia and Latin America.
This document contains forward-looking statements under the federal securities law. Forward-looking statements relate to the company's expected future financial results and business plans, strategies and objectives and are not historical facts. They are generally identified by qualifiers such as "intention" or similar expressions. There are risks and uncertainties, the outcome of which could cause the company's results to differ materially from what is projected. The forward-looking statements should be read in conjunction with the company's most recent annual report, as well as the company's Form 10-K, Form 10-Q and other reports filed with the Securities & Exchange Commission, containing a discussion of the company's business and various factors that may affect it.
SOURCE W.W. Grainger, Inc.