The Eastern Company Declares Increase in Quarterly Cash Dividend
10/22/2008 11:11:00 AM
NAUGATUCK, Conn.--(BUSINESS WIRE)--
The Eastern Company (AMEX-EML) today announced a 12.5% increase to
its regular quarterly cash dividend from eight cents ($0.08) per share
to nine cents ($0.09) per share payable December 15, 2008, to common
stock shareholders of record as of November 21, 2008. This dividend
represents the Company's 273rd consecutive quarterly dividend.
Mr. Leganza Chairman, President and CEO stated, "The increased
dividend reflects our continued and positive confidence in the
financial strength of our Company and the strengths of the markets we
serve. As we recover from the slow down in the economy, we would like
to share the results of that confidence with our shareholders."
The Eastern Company is a 150-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