Timken Company, a leading global manufacturer of engineered bearings and industrial motion products, has declared a cash dividend of 33 cents per share for the upcoming quarter. The dividend will be paid on August 28, 2023, to shareholders of record as of August 15, 2023.
This announcement marks a significant milestone for Timken, as it represents the company’s 405th consecutive quarter of paying dividends. Timken has consistently paid dividends on its common shares since it was first listed on the New York Stock Exchange (NYSE) in 1922. This impressive record places Timken among the companies with the longest-running dividend streaks on the NYSE.
Timken’s commitment to providing consistent dividends reflects the company’s financial stability and its dedication to rewarding its shareholders. The board of directors acknowledges the importance of dividends to shareholders and aims to continue this tradition of rewarding investors in the future.
The Timken Company is known for its extensive portfolio of high-quality engineered bearings and industrial motion products. With over a century of experience and innovation, Timken continuously enhances the reliability and efficiency of machinery and equipment worldwide. The company generated $4.5 billion in sales in 2022 and employs more than 19,000 people worldwide, operating in 46 countries.
In recognition of its responsible business practices and ethical standards, Timken has been honored with several commendations. It has been listed among America’s Most Responsible Companies by Newsweek, the World’s Most Ethical Companies by Ethisphere, America’s Most Innovative Companies by Fortune, and America’s Best Large Employers, Best Employers for New Graduates, and Best Employers for Women by Forbes.
This announcement of Timken’s 33-cent cash dividend per share reaffirms the company’s commitment to delivering value to its shareholders. The dividend payout demonstrates Timken’s financial strength and steady performance, further solidifying its position as a reliable investment option.
As Timken continues to innovate and expand its product portfolio, shareholders can look forward to the company’s sustained growth and ongoing commitment to creating value. With its long-standing track record and dedication to meeting the needs of its stakeholders, Timken remains a leading player in the global engineered bearings and industrial motion products market.
