WINONA, Minn., Nov. 18, 2010 (GLOBE NEWSWIRE) -- The Fastenal Company of Winona, MN (Nasdaq:FAST) reported its Board of Directors declared a special one-time dividend of $0.42 per share to be paid in cash on December 6, 2010 to shareholders of record at the close of business on November 24, 2010. The Company expects to resume its historical practice of paying a semi-annual cash dividend in the foreseeable future, provided that any future determination as to payment of dividends will depend upon the financial condition and results of operations of the Company and such other factors as are deemed relevant by the Board of Directors.
Dividend and stock repurchase activity in the last ten years are as follows:
All information reflects the 2-for-1 stock splits effected in the form of a stock dividend in each of 2002 and 2005.
Fastenal sells different types of industrial and construction supplies in the following product categories: threaded fasteners and miscellaneous supplies; tools; metal cutting tool blades and abrasives; fluid transfer components and accessories for hydraulic and pneumatic power; material handling; storage and packaging products; janitorial, chemical and paint products; electrical supplies; welding supplies; safety supplies; and metals, alloys and materials.
Additional information regarding Fastenal Company is available on the Fastenal Company World Wide Web site at .
The Fastenal Company logo is available at
This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a comparable semi-annual cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the Company and such other factors as are deemed relevant by the Board of Directors. For example, a change in business needs including working capital and funding for acquisitions, or a change in tax law relating to dividends, could cause the Company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the Company's 2009 annual report on Form 10-K under the section captioned "Risk Factors" and the Company's 2009 annual and 2010 quarterly reports under the section captioned "Management's Discussion and Analysis of Financial Condition and Results of Operations".
CONTACT: Fastenal Company Dan Florness, EVP and Chief Financial Officer 507.454.5374