Press release from Business Wire
Ecolab Increases Cash Dividend 20 Percent
<p class='bwalignc'> <i>22nd consecutive annual dividend rate increase</i> </p>
Thursday, December 05, 2013
Ecolab Increases Cash Dividend 20 Percent16:30 EST Thursday, December 05, 2013
ST. PAUL, Minn. (Business Wire) -- The board of directors of Ecolab Inc. has declared a 20 percent increase in the company's quarterly cash dividend to $0.275 per common share, to be paid January 15, 2014, to shareholders of record at the close of business on December 17, 2013. This increase results in a new indicated annual cash dividend of $1.10 per share in 2014 and represents Ecolab's 22nd consecutive annual dividend rate increase.
Ecolab has paid cash dividends on its common stock for 77 consecutive years.
“This substantial dividend increase reflects the continued growth and development we have achieved in 2013, our strong cash flows, solid financial position and our confidence in our business prospects for the years ahead,” said Ecolab Chairman and Chief Executive Officer Douglas M. Baker, Jr. “We remain committed to developing superior returns for our shareholders through our business progress and dividend growth.”
A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2012 sales of $12 billion and 44,000 associates, Ecolab delivers comprehensive solutions and on-site service to ensure safe food, maintain clean environments, optimize water and energy use and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world. For more Ecolab news and information, visit www.ecolab.com.
Cautionary Statements Regarding Forward-Looking Information
This news release contains various "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements concerning the indicated annual cash dividend for 2014 and future growth, cash flows, financial position and business prospects. These statements, which represent Ecolab's expectations or beliefs concerning various future events, are based on current expectations that involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We caution that undue reliance should not be placed on forward-looking statements, which speak only as of the date made. Additional risks and uncertainties that may affect operating results and business performance are set forth under Item 1A of our most recent Form 10-K for the year ended December 31, 2012, and the company's other public filings with the Securities and Exchange Commission (the "SEC") and include the vitality of the markets we serve; the impact of economic factors such as the worldwide economy, capital flows, interest rates and foreign currency risk; our ability to integrate the Nalco merger and the Champion acquisition and to realize the anticipated benefits of these transactions; our ability to attract and retain high caliber management talent to lead our business; our ability to execute key business initiatives; potential information technology infrastructure failures; exposure to global economic, political and legal risks related to our international operations; the costs and effects of complying with laws and regulations, including those relating to the environment and to the manufacture, storage, distribution, sale and use of our products; the occurrence of litigation or claims, including related to the Deepwater Horizon oil spill; our ability to develop competitive advantages through innovation; difficulty in procuring raw materials or fluctuations in raw material costs; our substantial indebtedness; our ability to acquire complementary businesses and to effectively integrate such businesses; restraints on pricing flexibility due to contractual obligations; pressure on operations from consolidation of customers, vendors or competitors; public health epidemics; potential losses arising from the impairment of goodwill or other assets; potential loss of deferred tax assets; potential class action lawsuits; the loss or insolvency of a major customer or distributor; acts of war or terrorism; natural or man-made disasters; water shortages; severe weather conditions; and other uncertainties or risks reported from time to time in our reports to the SEC. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this communication may not occur. We caution that undue reliance should not be placed on forward-looking statements, which speak only as of the date made. Ecolab does not undertake, and expressly disclaims, any duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations, except as required by law.
Michael Monahan, 651-293-2809
Lisa Curran, 651-293-2185