Timken Declares Dividend; Increases Quarterly Payout by 11 Percent

Resource from: Timken Likes:3085

May 11,2011

CANTON, Ohio, May 10, 2011 /PRNewswire/ -- Following The Timken Company's (NYSE: TKR) strong first-quarter financial results and improved outlook, Timken's board of directors today declared a quarterly cash dividend of 20 cents per share, an increase of 2 cents per share over the previous quarterly amount. The dividend is payable on June 2, 2011, to shareholders of record as of May 20, 2011. It is the 356th consecutive dividend to be paid on the common stock of the company. "The Timken Company continues to drive shareholder value through our share price and dividend," said Ward J. "Tim" Timken, Jr., chairman – board of directors, in making the announcement. "Timken's increased earning power provides the capacity for us to continue to grow the company and return more to our shareholders through higher dividends."

(Timken)

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