Carpenter Announces Dividend Increase.WYOMISSING, Pa. -- Carpenter Technology Corporation Carpenter Technology Corporation (NYSE:CRS) is a leading manufacturer and distributor of specialty alloys, including stainless steel and titanium, and various engineered products made from metallic and ceramic materials. (NYSE NYSE See: New York Stock Exchange :CRS CRS Course CRS Certified Residential Specialist (real estate certification) CRS Central Reservation System CRS Can't Remember Stuff (polite form) CRS Cost Reduction Strategy CRS Consumer Relations Specialist ) today announced that its Board of Directors declared a regular dividend of $.10 per share of common stock up from $.0825 per share. The dividend represents a 21 percent increase in the company's quarterly cash dividend on its common stock. "The dividend increase reflects management's and the Board's confidence in Carpenter's outlook and its sound financial position," said Robert J. Torcolini, Chairman, President and Chief Executive Officer. "The increase is part of our intent to continue to provide shareholders with competitive dividend returns while maintaining an appropriate dividend payout rate." The common stock dividend is payable on December 2, 2004, to shareholders of record on November 9, 2004. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. (the date that the common stock trades without the dividend) is November 5, 2004. |
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