Valspar and Harsco Corp.: Dividend Increases

Both Harsco Corp. (HSC) and Valspar Corp. (VAL) announce increases in each company's quarterly dividend. Both company's are included in S&P's list of firms in the S&P 1500 that have increased their cash dividend payments for at least 10 years.

Valspar:

• Quarterly dividend increases to $0.15 per share versus $0.14 per share in the same quarter last year.

• The projected payout ratio is 38% based on estimated 2009 earnings per share of $1.58. The 5-year average payout ratio is approximately 30%.

• The company maintains a B+ S&P Earnings & Dividend Quality Ranking.

Harsco Corp.:

• Quarterly dividend increases to $0.20 per share versus $0.19.5 per share in the same quarter last year.

• The projected payout ratio is 25% based on estimated 2009 earnings per share of $3.11. The five-year average payout ratio is approximately 30%. The estimated 2009 earnings are down from expected 2008 earnings per share of $3.25.

• The company maintains an S&P Earnings & Dividend Quality Ranking of A.

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Disclosure: None