Lincoln Electric (LECO) Declares $0.32 Quarterly Dividend and Approves 10M Share Buyback

Lincoln Electric (NASDAQ: LECO) declared a quarterly dividend of $0.32 per share, or $1.28 annualized.

The dividend will be payable on July 15, 2016, to stockholders of record on June 30, 2016, with an ex-dividend date of June 28, 2016.

The annual yield on the dividend is 2.1 percent.

Lincoln Electric Holdings, Inc., (the "Company") (Nasdaq: LECO) today announced that its Board of Directors has approved a new share repurchase program authorizing the Company to repurchase, in the aggregate, up to 10 million of its outstanding common stock.

The new program, in addition to the 2.8 million shares remaining from the prior program, represents approximately 18% of the diluted weighted average shares outstanding as of March 31, 2016. Under the authorization program, Lincoln Electric may repurchase shares on the open market or through privately negotiated transactions from time to time, depending on market conditions and subject to other factors.

“Our confidence in the Company’s strong cash flow generation and balance sheet profile allows us to invest in growth and return cash to shareholders through the cycle,” said Christopher L. Mapes, Chairman, President and Chief Executive Officer. “In the last ten years, we have returned over $1.6 billion in cash to shareholders through dividends and share buybacks and have consecutively increased our dividend payout rate for twenty years. This new program provides flexibility in achieving our capital allocation goals as part of our ‘2020 Vision and Strategy.’”

For a dividend history and other dividend-related data on Lincoln Electric (LECO) click here.

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