Date: 2013-08-01

Timken Raises Dividend by 15 Percent; Approves Increased Stock Buyback Authorization Plan

CANTON, Ohio, Feb. 10, 2012 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR) board of directors today declared a quarterly cash dividend of 23 cents per share, an increase of 15 percent over the previous quarterly amount. This marks the 359th consecutive dividend on the common stock of the company, payable on Mar. 2, 2012, to shareholders of record as of Feb. 21, 2012.

At the same time, the board approved a new stock buyback authorization for up to 10 million shares of Timken common stock. This replaces the company's existing share purchase plan, which had 2 million shares remaining and was set to expire on Dec. 31, 2012. Under the new plan, the company may purchase its own common shares in the open market or through privately negotiated transactions through Dec. 31, 2015.

"We are pleased that Timken's financial strength and record performance allow us to return more to our shareholders," said Ward J. Timken, Jr., chairman of the board. "The decisions to increase both the dividend and stock buyback plan directly reflect our confidence in the current and future prospects and value of The Timken Company."

Previous: Nook Recognized for Operational Excellence
Next: Wärtsilä and MAN Diesel & Turbo Enter Next Phase of HERCULES Research Project

Hot Products:

Product Model	Inside Diameter	Outside Diameter	Thickness
H-LM501349/H-LM501310 NACHI	41.275	73.431	19.812
LM501349/LM501310 NACHI	41.275	73.431	19.812

【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.