Quarterly payment of $0.35 per share is 9.4% increase over prior year
MEDINA, Ohio--(BUSINESS WIRE)--Oct. 4, 2018--
RPM
International Inc. (NYSE: RPM) today announced at its annual
meeting of stockholders that its board of directors declared a regular
quarterly cash dividend of $0.35 per share, payable on October 31, 2018,
to stockholders of record as of October 16, 2018. This payment
represents a 9.4 percent increase over the $0.32 quarterly cash dividend
paid at this time last year.
This action marks RPM’s 45th 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 publicly traded U.S.
companies. Only 41 other companies, besides RPM, have consecutively paid
an increasing annual dividend for this period of time or longer,
according to the Mergent Handbook of Dividend Achievers. During
this timeframe, the company has returned approximately $2.4 billion in
cash dividends to its stockholders. At a share price of $60.00, RPM's
dividend yield would be 2.3 percent.
“Annually increasing our cash dividend is one of the primary ways we
deliver value to our shareholders,” stated Frank C. Sullivan, chairman
and chief executive officer. “It is key to our ability to consistently
drive long-term growth and outperform the cumulative total return of the
broader market.”
At the meeting, five directors were elected to serve in Class II with
three-year terms expiring at the annual meeting of stockholders in 2019.
They included John P. Abizaid, senior partner at JPA Partners LLC; John
M. Ballbach, former chairman and CEO of VWR International, LLC; Bruce A.
Carbonari, retired chairman and CEO of Fortune Brands, Inc.; Jenniffer
D. Deckard, president and CEO of Covia Holdings Corporation; and
Salvatore D. Fazzolari, former chairman, president and CEO of Harsco
Corporation. In addition, proposed amendments to RPM’s Certificate of
Incorporation and By-Laws were not approved because they did not achieve
the required affirmative vote of at least 80 percent of the voting power
of outstanding shares of common stock as of the record date. These
amendments would have required the annual election of directors and
reduced the threshold for action taken by shareholders to a simple
majority.
About RPM
RPM International Inc. owns subsidiaries that are world leaders in
specialty coatings, sealants, building materials and related services
across three segments. RPM’s industrial products include roofing
systems, sealants, corrosion control coatings, flooring coatings and
other construction chemicals. Industrial companies include Stonhard,
Tremco,
illbruck,
Carboline,
Flowcrete,
Euclid
Chemical and RPM
Belgium Vandex. RPM's consumer products are used by
professionals and do-it-yourselfers for home maintenance and improvement
and by hobbyists. Consumer brands include Rust-Oleum,
DAP,
Zinsser,
Varathane
and Testors.
RPM’s specialty products include industrial cleaners, colorants,
exterior finishes, specialty OEM coatings, edible coatings, restoration
services equipment and specialty glazes for the pharmaceutical and food
industries. Specialty segment companies include Day-Glo,
Dryvit,
RPM
Wood Finishes, Mantrose-Haeuser,
Legend
Brands, Kop-Coat
and TCI.
Additional details can be found at www.RPMinc.com
and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Russell L. Gordon, vice president and
chief financial officer, at 330-273-5090 or rgordon@rpminc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181004005760/en/
Source: RPM International Inc.
RPM International Inc.
Russell L. Gordon, 330-273-5090
Vice
President and Chief Financial Officer
rgordon@rpminc.com
