Newell Rubbermaid Announces 25 Percent Dividend Increase
ATLANTA--(BUSINESS WIRE)-- Newell Rubbermaid Inc. (NWL) today announced that its Board of Directors declared a 25 percent increase in its quarterly dividend, from $0.08 per share to $0.10 per share. The dividend is payable June 15, 2012 to common stockholders of record at the close of business on May 31, 2012.
Newell Rubbermaid is focused on delivering sustainable earnings growth and strong returns to shareholders, said President and CEO Michael Polk. With our strengthened balance sheet and ability to generate consistently strong levels of free cash flow, we can comfortably drive our future growth ambition, increase the dividend, execute our share repurchase program, and deliver our target leverage metrics. Todays 25 percent dividend increase, in combination with the 60 percent increase implemented in 2011, represents consistent progress toward our stated target dividend payout ratio of 30 to 35 percent.
On August 12, 2011, Newell Rubbermaid announced a three year $300 million stock repurchase program. It announced its most recent dividend increase on April 29, 2011.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2011 sales of approximately $5.9 billion and a strong portfolio of leading brands, including Rubbermaid®, Sharpie®, Graco®, Calphalon®, Irwin®, Lenox®, Levolor®, Paper Mate®, Dymo®, Waterman®, Parker®, Goody®, Rubbermaid Commercial Products® and Aprica®.
This press release and additional information about Newell Rubbermaid are available on the companys Web site, www.newellrubbermaid.com.
Caution Concerning Forward-Looking Statements
Statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking statements relate to information or assumptions about the effects of sales, income/(loss), earnings per share, operating income or gross margin improvements or declines, the European Transformation Plan, Project Renewal, capital and other expenditures, cash flow, dividends, restructuring and restructuring-related costs, costs and cost savings, inflation or deflation, particularly with respect to commodities such as oil and resin, debt ratings, and management's plans, projections and objectives for future operations and performance. These statements are accompanied by words such as "anticipate," "expect," "project," "will," "believe," "estimate" and similar expressions. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, our dependence on the strength of retail, commercial and industrial sectors of the economy in light of the continuation or escalation of the global economic slowdown or regional sovereign debt issues; currency fluctuations; competition with other manufacturers and distributors of consumer products; major retailers' strong bargaining power; changes in the prices of raw materials and sourced products and our ability to obtain raw materials and sourced products in a timely manner from suppliers; our ability to develop innovative new products and to develop, maintain and strengthen our end-user brands; our ability to expeditiously close facilities and move operations while managing foreign regulations and other impediments; our ability to implement successfully information technology solutions throughout our organization; our ability to improve productivity and streamline operations; changes to our credit ratings; significant increases in the funding obligations related to our pension plans due to declining asset values or otherwise; the imposition of tax liabilities greater than our provisions for such matters; the risks inherent in our foreign operations; the fact that payment of dividends is at the discretion of the Board of Directors and will depend upon many factors, including the Companys financial condition, earnings, legal requirements and other factors the Board of Directors deems relevant; and those factors listed in the companys most recently filed Quarterly Report on Form 10-Q, including Exhibit 99.1 thereto, filed with the Securities and Exchange Commission. Changes in such assumptions or factors could produce significantly different results. The information contained in this news release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments.
Newell Rubbermaid Inc.
Nancy ODonnell, +1-770-418-7723
Vice President, Investor Relations
David Doolittle, +1-770-418-7519
Vice President, Corporate Communications
Source: Newell Rubbermaid Inc.Copyright Business Wire 2012