Dividend Aristocrat Raises Dividend By 3%

Stanley Black & Decker (SWK: 75.40 +1.34%) announced Friday that the company will raise their quarterly dividend by 3% to $.34 per share.

 

This marks the 43^rd consecutive year that the dividend aristocrat has increased their dividend. Following the dividend increase, SWK shares will yield 2.7% based on Friday’s closing price.

 

John F. Lundgren, President and Chief Executive Officer, stated, “We are as focused as ever on the total return we deliver to shareholders. Stanley Black & Decker’s ability to generate consistent free cash flow and return a portion to shareholders by way of our dividend remains a key component to our capital allocation strategy.”

 

Stanley Black & Decker holds the record for the longest consecutive dividend payments among industrials stocks that trade on the New York Stock Exchange (NYSE).

 

The dividend will be payable on September 21, 2010 to shareholders of record as of September 3, 2010.

 

The power tool maker has seen their stock price slip 1% this year, but has managed to outperform the 4% decline in the S&P 500 index.

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