RPM increases quarterly cash dividend by 2.4% year-over-year to US$0.215/share, payable Oct. 31
October 7, 2011
– RPM International Inc. (NYSE:RPM - News) today announced at its annual meeting of stockholders that its board of directors declared a regular quarterly cash dividend of $0.215 per share, payable on October 31, 2011, to stockholders of record as of October 17, 2011. This payment represents a 2.4 percent increase over the $0.21 quarterly cash dividend paid at this time last year.
This action marks RPM's 38th consecutive year of increased cash dividends paid to its stockholders, which places RPM in an elite category of less than half of 1 percent of all 19,000 publicly-traded U.S. companies. Only 46 other companies, besides RPM, have consecutively paid an increasing annual dividend for this period of time or longer, according to the fall 2011 edition of the Mergent Handbook of Dividend Achievers. At a share price of $20.00, RPM's dividend yield would be 4 percent.
"Dividend paying companies, like RPM, are a bright spot for investors in the currently volatile stock market. Research shows that for long-term investors they outperform non-dividend paying stocks and also reduce exposure to risk. RPM is a case in point as our cumulative total return to shareholders continues to outpace our peer group and the S&P 500, in part, due to our growing cash dividend," stated chairman and chief executive officer Frank C. Sullivan. "For the period ended May 31, 2011, our ten-year total return was more than 95 percent higher than our peers and 221 percent higher than the S&P 500. Today's dividend increase demonstrates our continued confidence in RPM's performance, commitment to a growing dividend and desire to reward our long-term shareholders."
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Euco, Flowcrete and Universal Sealants. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors. Additional details are available at www.rpminc.com.