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CLEVELAND, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings, Inc., (Nasdaq: LECO) announced today that its Board of Directors has approved a 4.3% increase in the quarterly cash dividend, from $0.47 per share to $0.49 per share, or to $1.96 per share on an annualized basis. This marks the twenty-fourth consecutive annual increase of the dividend. The declared quarterly cash dividend of $0.49 per common share is payable January 15, 2020 to shareholders of record at the close of business on December 31, 2019.
“The dividend increase reflects the strength of our balance sheet and strong cash generation through an economic cycle,” stated Christopher L. Mapes, Chairman, President and Chief Executive Officer. “We believe our balanced approach of investing in long-term growth while returning cash to shareholders generates superior value.”
About Lincoln Electric
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 60 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com.
Vice President, Investor Relations & Communications