Increases Dividend By 13 Percent to 26 Cents Per Common Share
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CLEVELAND, Aug. 17 -- The Board of Directors of Parker Hannifin Corporation (NYSE: PH) today increased the company's regular quarterly cash dividend to 26 cents per share of common stock, and declared a dividend payable September 8, 2006 to shareholders of record as of August 28, 2006. This represents a 13 percent increase over the previous quarterly dividend of 23 cents per share.
This is Parker's 225th consecutive quarterly dividend and comprises a distribution of approximately $31 million. Parker has increased its annual dividends paid to shareholders for 50 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.
With annual sales exceeding $9 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 57,000 people in 43 countries around the world. For more information, visit the company's web site at www.parker.com, or its investor information site at www.phstock.com.
SOURCE Parker Hannifin Corporation
08/17/2006
CONTACT: Media, Christopher M. Farage-Vice President, Corp.
Communications, +1-216-896-2750, or cfarage@parker.com, or Financial Analysts,
Pamela Huggins, Vice President-Treasurer, +1-216-896-2240, or
phuggins@parker.com, both of Parker Hannifin Corporation
