Timken Raises Quarterly Dividend to 35 Cents Per Share; Marking 12 Years of Increases

Rhea-AI Summary

The Timken Company (NYSE: TKR) has announced a 3% increase in its quarterly cash dividend to $0.35 per share, marking its 12th consecutive year of dividend increases. The dividend will be paid on May 23, 2025, to shareholders of record as of May 13, 2025. This increase demonstrates the board's confidence in Timken's ability to grow earnings and cash flow long-term. The company has maintained one of the longest-running dividend streaks among NYSE-listed companies, having paid dividends for 412 consecutive quarters since its NYSE listing in 1922. Timken, a global technology leader in engineered bearings and industrial motion, reported $4.6 billion in sales for 2024 and employs approximately 19,000 people across 45 countries.

Positive

• 12 consecutive years of dividend increases, showing consistent shareholder returns
• 412 consecutive quarters of dividend payments, demonstrating long-term financial stability
• Strong sales of $4.6 billion in 2024
• Global presence with operations in 45 countries

Negative

• Modest 3% dividend increase may not keep pace with inflation
• -

NORTH CANTON, Ohio, May 2, 2025 /PRNewswire/ -- The board of directors of The Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, today approved a 3 percent increase in the company's quarterly cash dividend, raising it to 35 cents per share. The dividend is payable on May 23, 2025, to shareholders of record as of May 13, 2025.

"Timken is proud to deliver 12 straight years of annual dividend increases," said Richard G. Kyle, president and chief executive officer. "This year's increase reflects the trust our board has in our ability to grow earnings and cash flow over the long term, even through dynamic environments. Steadily growing the dividend remains an important part of our capital allocation strategy."

Timken has paid a dividend on its common shares every quarter since its original listing on the New York Stock Exchange (NYSE) in 1922. The upcoming dividend represents 412 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), a global technology leader in engineered bearings and industrial motion, designs a growing portfolio of next-generation products for diverse industries. For more than 125 years, Timken has used its specialized expertise to innovate and create customer-centric solutions that increase reliability and efficiency. Timken posted $4.6 billion in sales in 2024 and employs approximately 19,000 people globally, operating from 45 countries.

Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com

Investor Relations:
Neil Frohnapple
234.262.2310
investors@timken.com

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SOURCE The Timken Company

FAQ

What is Timken's (TKR) new quarterly dividend amount for 2025?

Timken's new quarterly dividend is $0.35 per share, representing a 3% increase from the previous amount.

When will Timken (TKR) pay its latest quarterly dividend in 2025?

The dividend will be paid on May 23, 2025, to shareholders of record as of May 13, 2025.

How long has Timken (TKR) been paying dividends?

Timken has paid dividends for 412 consecutive quarters since its NYSE listing in 1922, making it one of the longest-running dividend streaks among NYSE-listed companies.

What were Timken's (TKR) sales in 2024?

Timken reported sales of $4.6 billion in 2024.

How many consecutive years has Timken (TKR) increased its dividend?

Timken has increased its dividend for 12 consecutive years, demonstrating consistent commitment to shareholder returns.