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Fastenal Company NASDAQ: FAST-Q

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Fastenal Company Announces Cash Dividend

BusinessWire - Tue Jan 19, 1:05PM CST

Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.28 per share to be paid in cash on March 3, 2021 to shareholders of record at the close of business on February 3, 2021. Except for share and per share information, dollar amounts are stated in millions.

Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011. In addition to these regular dividend payments, Fastenal has previously paid special one-time dividends in December 2008, December 2012, and December 2020. Our board of directors currently intends to continue paying quarterly dividends, though all future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors, such as income tax rates related to dividends at that time.

In 2021, 2020, and 2019, we paid (or declared) dividends as follows:

Year                First                            Second                                Third                                             Fourth                                            Sub-Total                             Fourth                                Total
                                      Quarter                                              Quarter                                                 Quarter                                                               Quarter                                                              (Regular)                                                Quarter
                                                                                                                                                                                                                                                                                                                                                      (Special)
---- -------------------- ---------------------------   -------------------- --------------------------------   -------------------- --------------------------------   -------------------- ------------------------------------------------------------   -------------------- --------------------------------   -------------------- --------------------------------   -------------------- --------------------------------
2021   $  0.280                                                                                      
2020   $  0.250     $       0.250     $       0.250     $                                   0.250     $       1.000     $       0.400     $       1.400  
2019   $  0.215     $       0.215     $       0.220     $                                   0.220     $       0.870     $       0.000     $       0.870

Dividend and common stock purchase activity during the last ten years:

Total                                                                                                                            Dividends per Share                                                                                                                            Total Value of                                                                   Total Number                                                                    Average Per
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Share Price of
                                                                                                                 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
        Dividend                                      Dividends                                                               Regular                                                 Special                              Total                                                Common Stock                                                                      of Shares                                                                    Common Stock
Year                       Payments                                        Paid                                                                 Dividend                                                Dividend                            Dividend                                                 Purchased                                                                       Purchased                                                                      Purchased
-------------------- -------------------- ------------------------------------------------------------------     -----------------------------------------------------------------     -------------------- ------------------------------------   -------------------- --------------------------   -------------------- ----------------------------------------------------------------------------     --------------------------------------------------------------------------    ----------------------------------------------------------------------------
2021                 One (1)                $ 160.8       $ 0.28       $  --     $  0.28       $  --       --       $  --    
2020                 Five (2)               $ 803.4       $ 1.00       $            0.40     $  1.40       $            52.0            1,600,000       $           32.54    
2019                 Four                   $ 498.6       $ 0.87       $  --     $  0.87       $  --       --       $  --    
2018                 Four                   $ 441.9       $ 0.77       $  --     $  0.77       $           103.0            4,000,000       $           25.75    
2017                 Four                   $ 369.1       $ 0.64       $  --     $  0.64       $            82.6            3,800,000       $           21.72    
2016                 Four                   $ 346.6       $ 0.60       $  --     $  0.60       $            59.5            3,200,000       $           18.58    
2015                 Four                   $ 327.1       $ 0.56       $  --     $  0.56       $           293.0           14,200,000       $           20.63    
2014                 Four                   $ 296.6       $ 0.50       $  --     $  0.50       $            52.9            2,400,000       $           22.06    
2013                 Four                   $ 237.5       $ 0.40       $  --     $  0.40       $             9.1              400,000       $           22.70    
2012                 Five (2)               $ 367.3       $ 0.37       $            0.25     $  0.62       $  --       --       $  --    
                                                               - ----- -------------------- -------------------- -------------------- - ---- -------------------- -------------------- -------------------- -- -------------- -------------------- -------------------- -- ---- -------------------- -------------------- -------------------- -- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -- -------------- -------------------- --------------------
(1) The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 574.2 million shares outstanding at December 31, 2020. The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 574.2 million shares outstanding at December 31, 2020.

All share and per share information reflects the two-for-one stock split in 2019.

About Fastenal

Fastenal helps customers simplify and realize product and process savings across their supply chain. We sell a broad offering of products spanning more than nine major product lines - from fasteners and tools to safety and janitorial supplies. These products are efficiently distributed to manufacturing facilities, job sites, and other customer locations through local service teams and point-of-use inventory solutions, including industrial vending technology and bin stock programs (Fastenal Managed Inventory or FMI(R)). Our distribution system centers on over 3,200 in-market locations (a combination of public branches and customer-specific Onsite locations), primarily in North America but also in Asia, Europe, and Central and South America, each providing tailored inventory, flexible service, and custom solutions to drive the unique goals of local customers. These in-market servicing locations are supported by fifteen regional distribution centers, a captive logistics fleet, robust sourcing, quality and manufacturing resources, and multiple teams of industry specialists and support personnel - all working toward Fastenal's common goal of Growth Through Customer Service(R).

Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.

This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a quarterly cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors. For example, a change in business needs including working capital and funding for acquisitions, or a change in income tax law relating to dividends, could cause the company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the company's filings with the SEC, including our most recent annual and quarterly reports. FAST-D

View source version on businesswire.com: https://www.businesswire.com/news/home/20210119006042/en/

SOURCE: Fastenal Company

Ellen Stolts
Assistant Controller - Reporting and Reconciliation
507.313.7282
comtex tracking

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