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Fastenal Company Announces Cash Dividend

January 16, 2020 GMT

WINONA, Minn.--(BUSINESS WIRE)--Jan 16, 2020--

Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.25 per share to be paid in cash on February 28, 2020 to shareholders of record at the close of business on January 31, 2020. Except for share and per share information, dollar amounts are stated in millions.

Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011. Our board of directors intends to continue paying quarterly dividends, though all future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors, such as income tax rates related to dividends at that time.

In 2020, 2019, and 2018, we paid (or declared) dividends as follows:

Year

 

First

Quarter

 

Second

Quarter

 

Third

Quarter

 

Fourth

Quarter

2020

 

$

0.250

 

 

 

 

 

 

 

2019

 

$

0.215

 

 

$

0.215

 

 

$

0.220

 

 

$

0.220

 

2018

 

$

0.185

 

 

$

0.185

 

 

$

0.200

 

 

$

0.200

 

Dividend and common stock purchase activity during the last ten years:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Per

 

 

 

 

Total

 

Dividends per Share

 

Total Value of

 

Total Number

 

Share Price of

 

 

Dividend

 

Dividends

 

Regular

 

Total

 

Common Stock

 

of Shares

 

Common Stock

Year

 

Payments

 

Paid

 

Dividend

 

Dividend

 

Purchased

 

Purchased

 

Purchased

2020

 

One (1)

 

$

143.5

 

$

0.250

 

$

0.250

 

$

 

 

$

2019

 

Four

 

$

498.6

 

$

0.870

 

$

0.870

 

$

 

 

$

2018

 

Four

 

$

441.9

 

$

0.770

 

$

0.770

 

$

103.0

 

4,000,000

 

$

25.75

2017

 

Four

 

$

369.1

 

$

0.640

 

$

0.640

 

$

82.6

 

3,800,000

 

$

21.72

2016

 

Four

 

$

346.6

 

$

0.600

 

$

0.600

 

$

59.5

 

3,200,000

 

$

18.58

2015

 

Four

 

$

327.1

 

$

0.560

 

$

0.560

 

$

293.0

 

14,200,000

 

$

20.63

2014

 

Four

 

$

296.6

 

$

0.500

 

$

0.500

 

$

52.9

 

2,400,000

 

$

22.06

2013

 

Four

 

$

237.5

 

$

0.400

 

$

0.400

 

$

9.1

 

400,000

 

$

22.70

2012

 

Five (2)

 

$

367.3

 

$

0.370

 

$

0.620

 

$

 

 

$

2011

 

Four

 

$

191.7

 

$

0.325

 

$

0.325

 

$

 

 

$

Ten Year Total

 

 

 

$

3,219.9

 

$

5.285

 

$

5.535

 

$

600.1

 

28,000,000

 

$

21.43

(1) The total dividends paid amount includes the estimated impact from this announcement. The estimate is calculated using the 574.1 million shares outstanding at December 31, 2019.

(2) There was a supplemental dividend paid in December 2012.

All share and per share information reflects the two-for-one stock splits in both 2019 and 2011.

About Fastenal

Fastenal helps customers simplify and realize product and process savings across their supply chain. We sell a broad offering of products spanning more than nine major product lines – from fasteners and tools to safety and janitorial supplies. These products are efficiently distributed to manufacturing facilities, job sites, and other customer locations through local service teams and point-of-use inventory solutions, including industrial vending technology and bin stock programs (Fastenal Managed Inventory or FMI ® ). Our distribution system centers on over 3,200 in-market locations (a combination of public branches and customer-specific Onsite locations), primarily in North America but also in Asia, Europe, and Central and South America, each providing tailored inventory, flexible service, and custom solutions to drive the unique goals of local customers. These in-market servicing locations are supported by fifteen regional distribution centers, a captive logistics fleet, robust sourcing, quality and manufacturing resources, and multiple teams of industry specialists and support personnel – all working toward Fastenal’s common goal of Growth Through Customer Service ®.

Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.

This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a quarterly cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors. For example, a change in business needs including working capital and funding for acquisitions, or a change in income tax law relating to dividends, could cause the company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the company’s filings with the SEC, including our most recent annual and quarterly reports. FAST-D

View source version on businesswire.com:https://www.businesswire.com/news/home/20200116005856/en/

CONTACT: Ellen Stolts

Assistant Controller – Reporting and Reconciliation

507.313.7282

KEYWORD: MINNESOTA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT RETAIL TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT

SOURCE: Fastenal Company

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PUB: 01/16/2020 05:15 PM/DISC: 01/16/2020 05:15 PM

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