CANTON, Ohio, Feb. 14, 2014 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) board of directors today declared a quarterly cash dividend of 25 cents per share, an increase of 9 percent over the previous quarterly amount. The dividend is payable on March 7, 2014, to shareholders of record as of Feb. 24, 2014.
"We're pleased that the company's strong cash flow and financial performance support returning more capital to Timken shareholders," said Ward J. Timken, Jr., chairman of the board. "The board's decision to increase the dividend reflects the confidence we have in the company and its continued ability to provide value to shareholders."
This marks the 367th consecutive quarterly dividend paid on the common shares of the company since The Timken Company joined the New York Stock Exchange in 1922, one of the longest-running dividend records among NYSE-listed companies.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com), a global industrial technology leader, applies its deep knowledge of materials, friction management and power transmission to improve the reliability and efficiency of industrial machinery and equipment all around the world. The company engineers, manufactures and markets mechanical components and high-performance steel. Timken® bearings, engineered steel bars and tubes—as well as transmissions, gearboxes, chain, related products and services—support diversified markets worldwide. With sales of $4.3 billion in 2013 and approximately 19,000 people operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
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SOURCE The Timken Company