PITTSBURGH, May 3, 2021 /PRNewswire/ -- The Board of Directors of MSA Safety Incorporated (NYSE: MSA) today declared a second quarter dividend of 44 cents per share on common stock, payable June 10, 2021 to shareholders of record on May 17, 2021. This represents a 2 percent increase from the previous quarterly dividend of 43 cents. MSA has increased its dividend annually for more than 50 consecutive years.
The Board also declared a dividend of 56-1/4 cents per share on preferred stock, payable June 1, 2021 to shareholders of record on May 17, 2021.
According to Kenneth Krause, MSA Senior Vice President Chief Financial Officer and Treasurer, the company continues to execute a balanced capital allocation strategy focused on growing its business and returning value to shareholders. Over the past twelve months, the company has funded $67 million of dividends to shareholders, deployed $63 million for the acquisition of Bristol Uniforms, and invested $52 million for strategic capital expenditures. "Today's dividend increase is part of our balanced approach and reflects MSA's long-standing commitment of returning value to shareholders. At the same time, we remain very focused on using our strong balance sheet to grow our business as economic conditions continue to improve. We are well positioned to fund our dividend while investing in growth platforms that enhance our positions across core markets, geographies and technologies."
About MSA Safety
Established in 1914, MSA Safety Incorporated is the global leader in the development, manufacture and supply of safety products that protect people and facility infrastructures. Many MSA products integrate a combination of electronics, mechanical systems and advanced materials to protect users against hazardous or life-threatening situations. The company's comprehensive product line is used by workers around the world in a broad range of markets, including the oil, gas and petrochemical industry, the fire service, the construction industry, mining and the military. MSA's core products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, firefighter helmets and protective apparel, and fall protection devices. With 2020 revenues of $1.35 billion, MSA employs approximately 5,000 people worldwide. The company is headquartered north of Pittsburgh in Cranberry Township, Pa., and has manufacturing operations in the United States, Europe, Asia and Latin America. With more than 40 international locations, MSA realizes approximately half of its revenue from outside North America. For more information visit MSA's web site at www.MSAsafety.com