NAUGATUCK, Conn., Oct 27, 2010 (BUSINESS WIRE) --
The Eastern Company (NYSE Amex-EML) today announced the declaration of its regular quarterly cash dividend of nine cents ($0.09) per share, payable December 15, 2010, to common stock shareholders of record as of November 19, 2010 and represents the Company's 281st consecutive quarterly dividend.
In addition, the Company will pay an additional one-time extra dividend of sixteen cents ($0.16) per share, payable December 15, 2010, to common stock shareholders of record as of November 19, 2010.
The extra dividend reflects the Company's current success, firm cash position and optimistic view about future prospects and a desire to share those positive factors with our shareholders.
The Eastern Company is a 152-year-old manufacturer of vehicular and industrial hardware, locks, metal castings, coin collection and smart card products. It operates from nine locations in the U.S., Canada, Mexico, Taiwan and China. The diversity of the Company's products enables it to respond to the changing requirements of a broad array of markets.
Forward-Looking Statements: Information in this news release contains statements which reflect the Company's current expectations regarding its future operating performance and achievements. Actual results may differ due to the many economic uncertainties that affect the Company's business environment. Further information about the potential factors which could affect the Company's financial results is included in the Company's reports and filings with the Securities and Exchange Commission. The Company is not obligated to update or revise the aforementioned statements for those new developments.
SOURCE: The Eastern Company
The Eastern Company
Leonard F. Leganza or John L. Sullivan III, 203-729-2255