Posted on May - 11 - 2010
Timken Co. raises dividend 44%
Directors of Timken Co. (NYSE: TKR) have raised the company’s quarterly dividend by four cents a share, or 44%, to a new rate of 13 cents.
The maker of bearings and steel said the increased dividend is payable June 2 to shareholders of record May 21.
Chairman Ward J. “Tim” Timken Jr. said the board’s decision to increase the dividend “signals our confidence in the company’s future and our commitment to return greater value to shareholders.”
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