PREMARK RAISES DIVIDEND
PREMARK RAISES DIVIDEND DEERFIELD, Ill., May 6 /PRNewswire/ -- Premark International Inc.
(NYSE: PMI) announced that its board of directors today raised the company's quarterly dividend 19 percent to 25 cents per share from 21 cents, which represents a new annualized rate of $1 per share. The dividend is payable on July 3, 1992, to shareholders of record on June 12, 1992.
At the company's annual meeting today, Warren L. Batts, chairman and chief executive officer, told shareholders, "The decision to increase the dividend reflects our confidence in our ability to withstand reasonable economic turmoil and continue to build on the progress we've made." Premark recently reported sharply higher first-quarter earnings of $20.5 million, up from $8.9 million in 1991, on a 4 percent sales increase to $678 million. "We expect the momentum in our international businesses to continue, and we're encouraged by the early signs of an upturn in the domestic markets for our food equipment and decorative products businesses," Batts said. "The caveats are the uncertain economic conditions in several countries which are very important to us and the sales decline in Tupperware's U.S. business." Premark International, Inc. is a $2.8 billion multinational company that markets premium products under leading brand names such as Tupperware, West Bend, Wilsonart, Hobart, Vulcan, Florida Tile, Hartco and Precor. Premark stock is listed on the New York, Pacific and London Stock Exchanges. -0- 5/6/92 /CONTACT: George Shafer of Premark International, 708-405-6252/ (PMI) CO: Premark International ST: Illinois IN: SU: DIV
PS -- NY062 -- 7172 05/06/92 14:26 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||May 6, 1992|
|Previous Article:||KEY ISSUES BETWEEN COMPANIES AND SHAREHOLDERS HIGHLIGHT NIRI CONFERENCE|
|Next Article:||ULTRA-WHEELS AND BUD DRY ROLL TOGETHER IN MINNEAPOLIS IN-LINE SKATING FESTIVAL|