Printer Friendly

STANLEY WORKS DECLARES SECOND QUARTER DIVIDEND; ELECTS NEW DIRECTOR

 NEW BRITAIN, Conn., June 2 /PRNewswire/ -- The Stanley Works (NYSE: SWK) Board of Directors declared a second quarter regular dividend of $.33 per share on the common stock at its regular meeting today. The dividend is payable July 3, 1993 to shareholders of record at the close of business on June 14, 1993.
 The board also announced the election of a new member, George A. Lorch, executive vice president of Armstrong World Industries, Inc. The election of Mr. Lorch fills a vacancy created by the retirement in April of J. Robert Hicks, a retired executive of The Goodyear Tire and Rubber Company.
 Richard H. Ayers, chairman and chief executive officer of The Stanley Works said: "We are very pleased to have George Lorch join Stanley's Board. Through his work at Armstrong, he is intimately familiar with sales, marketing and manufacturing operations for consumer and industrial customers similar to
Stanley's. He is a thoughtful individual with excellent experience and insights into the dynamics of global marketing. In his current position, he is responsible for marketing in Europe and the Far East -- two areas of particular importance and potential growth for Stanley."
 Armstrong World Industries, Inc. is a worldwide manufacturer and marketer of interior furnishings including floor coverings, furniture and building products. The company also manufactures specialty products for the building, automotive and textiles industries.
 Mr. Lorch joined Armstrong in 1963 serving in sales, marketing and operational management positions in nearly all of the company's businesses and markets. He was appointed group vice president for carpet operations in 1983, and was elected executive vice president in 1988. He was also elected to Armstrong's board of directors in 1988.
 A graduate of Virginia Polytechnic Institute, Mr. Lorch is a trustee of Franklin & Marshall College, and a member of its External Relations Committee and Audit Committee.
 Mr. Lorch is 51 years old. He and his wife Suzanne have two daughters and live in Lancaster, Pa.
 The Stanley Works is a leading worldwide producer of tools, hardware and specialty hardware for home improvement, consumer, industrial and professional use. The company has paid dividends every year since 1877, the longest record of continuous annual dividend payment of any industrial company listed on the New York Stock Exchange. Stanley's dividends have increased every year since 1967.
 -0- 6/2/93
 /CONTACT: Patricia McLean, manager - corporate communications of The Stanley Works, 203-827-3833/
 (SWK)


CO: The Stanley Works ST: Connecticut IN: HOU SU: DIV PER

WB-LR -- NY040 -- 4451 06/02/93 12:09 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 2, 1993
Words:415
Previous Article:CARTER HAWLEY HALE PROMOTES MATTES TO VICE PRESIDENT
Next Article:IFINT S.A. ANNOUNCES FISCAL 1992 RESULTS
Topics:


Related Articles
STANLEY WORKS FIRST QUARTER DIVIDEND MARKS 116 YEARS OF PAYMENTS
STANLEY REPORTS FIRST QUARTER PROGRESS; DIVIDEND DECLARED
STANLEY WORKS ANNOUNCES FOURTH QUARTER DIVIDEND
STANLEY DECLARES FIRST QUARTER DIVIDEND
STANLEY DECLARES SECOND QUARTER DIVIDEND
STANLEY ANNOUNCES SECOND QUARTER DIVIDEND
Stanley Announces Dividend Increase
The Stanley Works Announces First Quarter Dividend
The Stanley Works Announces Second Quarter Dividend
The Stanley Works Announces 8.1% Increase in Dividend Payment 30th Consecutive Year of Dividend Increases

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters