Quarterly payment of $0.32 per share is 6.7% increase over prior year
MEDINA, Ohio--(BUSINESS WIRE)--Oct. 5, 2017--
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 $0.32 per share, payable on October 31, 2017, to
stockholders of record as of October 16, 2017. This payment represents a
6.7 percent increase over the $0.30 quarterly cash dividend paid at this
time last year.
This action marks RPM’s 44th 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 19,000 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 2017 edition of the Mergent Handbook of Dividend
Achievers. At a share price of $51.50, RPM's dividend yield would be
2.5 percent.
“The dividend increase today demonstrates our board of directors’
continued confidence in RPM’s performance and long-term prospects for
growth,” stated Frank C. Sullivan, chairman and chief executive officer.
“Annually increasing the dividend is a key element in rewarding our
shareholders with a cumulative
total return that has outpaced the S&P 500 by 70 percent and our
peers by 28 percent over the ten-year period ended May 31, 2017.”
At the meeting, four directors were elected to serve in Class III with
three-year terms expiring at the annual meeting of stockholders in 2020.
They included Julie A. Lagacy, vice president of global information
services and chief information officer of Caterpillar Inc.; Robert A.
Livingston, president and chief executive officer of Dover Corporation;
Frederick R. Nance, global managing partner of Squire Patton Boggs (US)
LLP; and William B. Summers, Jr., retired chairman and chief executive
officer of McDonald Investments Inc., which is part of KeyBanc Capital
Markets.
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 Barry M. Slifstein, vice president –
investor relations, at 330-273-5090 or bslifstein@rpminc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171005006043/en/
Source: RPM International Inc.
RPM International Inc.
Barry M. Slifstein, vice president –
investor relations, 330-273-5090
bslifstein@rpminc.com
