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Donaldson Company Announces Quarterly Cash Dividend and New Share Repurchase Program
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
buybackdividends
Rhea-AI Summary
Donaldson Company, Inc. (NYSE: DCI) announced a regular cash dividend of 25.0 cents per share and a new share repurchase program. The dividend is payable on December 20, 2023, to shareholders of record on December 5, 2023. This marks the 28th consecutive year of annual dividend increases for Donaldson, a member of the S&P High-Yield Dividend Aristocrats Index. The Board of Directors also authorized the repurchase of up to 12 million shares of its common stock, replacing the existing authority approved in May 2019. Donaldson has repurchased approximately 11 million shares under the prior authorization of 13 million shares.
Positive
The announcement of a regular cash dividend and a new share repurchase program demonstrates the company's commitment to returning value to its shareholders.
The 28th consecutive year of annual dividend increases indicates the company's stability and financial strength.
Negative
None.
MINNEAPOLIS--(BUSINESS WIRE)--
Donaldson Company, Inc. (NYSE: DCI) today announced that its Board of Directors declared a regular cash dividend of 25.0 cents per share and authorized a new share repurchase program.
The dividend is payable December 20, 2023, to shareholders of record on December 5, 2023. Donaldson is a member of the S&P High-Yield Dividend Aristocrats Index and calendar year 2023 will mark the 28th consecutive year of annual dividend increases. The Company has paid a cash dividend every quarter for 68 years.
Additionally, Donaldson’s Board of Directors authorized the repurchase of up to 12 million shares of its common stock, or approximately 10 percent of its outstanding shares. The new repurchase authorization replaces the existing authority that was approved in May 2019. To date, the Company has repurchased approximately 11 million shares under the prior authorization of 13 million shares.
About Donaldson Company, Inc.
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OEM brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.
What is the dividend amount announced by Donaldson Company, Inc.?
Donaldson Company, Inc. announced a regular cash dividend of 25.0 cents per share.
When is the dividend payable to shareholders?
The dividend is payable on December 20, 2023, to shareholders of record on December 5, 2023.
How many shares of its common stock did Donaldson's Board of Directors authorize the repurchase of?
The Board of Directors authorized the repurchase of up to 12 million shares of its common stock, replacing the existing authority approved in May 2019.
donaldson is one of the nation’s largest and consistently growing filtration manufacturers. we have a rich history beginning in 1915 when our founder, frank a. donaldson, made the first ever successful air cleaner for internal combustion engines. the company has emphasized the role of invention and innovation ever since. we are technology-driven. of our over 13,000 employees, 1,000 of them are scientists and engineers. we strive to solve complex filtration challenges with our value-added innovations. today, those innovative filtration systems are on everything from heavy-duty trucks on the interstate to computer disk drives that store valuable information. donaldson is a member of the s&p midcap 400 index and donaldson shares are traded on the new york stock exchange under the symbol dci.
