BELOIT, Wis., April 28, 2014 /PRNewswire/ -- Mark J. Gliebe, Chairman and Chief Executive Officer of Regal Beloit Corporation (NYSE: RBC), today announced that its Board of Directors has approved a 10 percent increase in the Company's quarterly cash dividend. The cash dividend will increase from $0.20 to $0.22 per share of common stock. The dividend is payable on July 11, 2014, to shareholders of record at the close of business on June 27, 2014. This represents the 216th consecutive dividend declared by the Company and the ninth time in ten years the dividend has increased.
"Our business continues to generate strong operating cash enabling us to both invest in strategic growth opportunities and return capital to shareholders. Over the last ten years we have returned over $220 million to our shareholders through regular quarterly dividends," said Mr. Gliebe.
Regal Beloit Corporation is a leading manufacturer of electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world. Regal is headquartered in Beloit, Wisconsin, and has manufacturing, sales and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal's common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.
SOURCE Regal Beloit Corporation