NORTH CANTON, Ohio,
May 7, 2021 /PRNewswire/ -- The board
of directors of The Timken Company (NYSE: TKR; www.timken.com), a
global industrial leader in engineered bearings and power
transmission products, today approved a three percent increase to
the company's quarterly cash dividend, raising it to 30 cents per share. The dividend is payable on
June 3, 2021, to shareholders of
record as of May 21, 2021.
"The increase in our dividend reflects our long-term outlook and
ability to continue to grow the earnings power of the company,"
said Richard G. Kyle, Timken
president and chief executive officer. "This upcoming dividend will
mark 99 straight years of consecutive quarterly dividends. We are
proud of this track record, and growing our dividend will remain a
top priority of our capital deployment strategy."
The Timken Company has paid a dividend on its common shares
every quarter since its listing on the New York Stock Exchange
(NYSE) in 1922. The upcoming dividend represents 396 consecutive
quarters, one of the longest-running dividend streaks among
NYSE-listed companies.
About The Timken Company
The Timken
Company (NYSE: TKR; www.timken.com) designs a growing
portfolio of engineered bearings and power transmission products.
With more than a century of knowledge and innovation, we
continuously improve the reliability and efficiency of global
machinery and equipment to move the world forward. Timken
posted $3.5 billion in sales in 2020
and employs more than 17,000 people globally, operating from 42
countries. Timken is recognized among America's Most Responsible
Companies by Newsweek, the World's Most Ethical
Companies® by Ethisphere and America's Best Employers by
Forbes.
Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com
Investor Relations:
Neil Frohnapple
234.262.2310
neil.frohnapple@timken.com
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SOURCE The Timken Company