UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 22, 2013
DONALDSON COMPANY, INC.
(Exact name of registrant as specified in its charter)
Delaware |
1-7891 |
41-0222640 |
(State or other jurisdiction |
(Commission file number) |
(I.R.S. Employer |
1400 West 94th Street
Minneapolis, MN 55431
(Address of principal executive offices) (Zip Code)
(952) 887-3131
Registrants telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events and Regulation FD Disclosure
On May 22, 2013, Donaldson Company, Inc. (the Company) announced that the Companys Board of Directors has increased the Companys common stock cash dividend to 13 cents per share, payable June 21, 2013 to shareholders of record as of June 7, 2013. The current declaration is the 231st consecutive quarterly cash dividend paid by Donaldson over a time span of 57 years.
A copy of the press release that discusses these matters is filed as Exhibit 99.1 to, and incorporated by reference in, this report.
(c) Exhibits.
99.1 |
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Press Release, dated May 22, 2013, issued by Donaldson Company, Inc. |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Date: May 22, 2013
DONALDSON COMPANY, INC. | |||
By: |
/s/ Norman C. Linnell | ||
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Name: |
Norman C. Linnell |
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Title: |
Vice President, General Counsel and Secretary |
Exhibit No. |
Description |
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99.1 |
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Press Release dated May 22, 2013 issued by Donaldson Company, Inc. |
Exhibit 99.1
FOR IMMEDIATE RELEASE: | FOR FURTHER INFORMATION: |
Wednesday, May 22, 2013 | Rich Sheffer (952) 887-3753 |
DONALDSON COMPANY INCREASES DIVIDEND 30 PERCENT
MINNEAPOLIS, May 22, 2013 — Donaldson Company, Inc. (NYSE: DCI), announced today that its Board of Directors declared a regular cash dividend of $0.13 per share, payable June 21st to Shareholders of record as of June 7th, an increase of 30 percent from the prior payout of $0.10 per share. The Company increased its dividend policy to pay out 30 to 40 percent of the prior three years’ average EPS.
“We first established our dividend payout policy using financial metrics in the 1980s to make our dividend payout increases more consistent. This has resulted in 27 consecutive years of dividend increases,” said Bill Cook, Donaldson’s CEO. “As we have continued to grow, our ability to consistently pay a higher percentage of earnings has likewise increased. Based on our regular review of our Strategic Growth Plan and our dividend and share repurchase policies, we decided to increase our dividend payout. Our updated dividend payout policy, combined with our longstanding practice of repurchasing an average of 2 percent of our outstanding shares each year, firmly demonstrates our commitment of returning a high percentage of our earnings to our Shareholders while continuing to grow our Company’s sales and earnings.”
The current declaration is the 231st consecutive quarterly cash dividend paid by Donaldson over a time span of 57 years.
About Donaldson Company, Inc.
Donaldson is a leading worldwide provider of filtration systems that improve people’s lives, enhance our Customers’ equipment performance, and protect our environment. We are a technology-driven Company committed to satisfying our Customers’ needs for filtration solutions through innovative research and development, application expertise, and global presence. Our approximately 12,500 employees contribute to the Company’s success by supporting our Customers at our more than 100 sales, manufacturing, and distribution locations around the world.
Donaldson is a member of the S&P MidCap 400 and Russell 1000 indices, and our shares trade on the NYSE under the symbol DCI. Additional information is available at www.donaldson.com.
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