RPM Increases Cash Dividend for 51st Consecutive Year
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Quarterly payment of
$0.51 per share is 10.9% increase over prior year - Three directors re-elected at annual meeting of stockholders
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As previously announced,
Kirkland Andrews andJohn Ballbach stepping down from board of directors
“Over the past year, our associates built upon our legacy of generating growth throughout economic cycles, which is allowing us to increase our dividend for the 51st consecutive year. They achieved this through the successful implementation of MAP 2025 operational improvement initiatives, focusing on repair and maintenance demand, and nimbly capturing new growth opportunities, which allowed us to generate record profitability and cash flow,” said
RPM’s 51st consecutive year of increased cash dividends paid to its stockholders places RPM in an elite category of less than half of 1 percent of all publicly traded
At the annual meeting of stockholders, proposal one was approved, and as a result, the classification of the Board of Directors will be phased out over the next three annual meetings. Additionally, three directors were re-elected to serve one-year terms expiring at the annual meeting of stockholders in 2025. They are:
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Bruce A. Carbonari , retired Chair and Chief Executive Officer,Fortune Brands, Inc. -
Jenniffer D. Deckard , Chief Finance and Administration Officer of the Sisters of Notre Dame ofthe United States -
Salvatore D. Fazzolari , former Chair and Chief Executive Officer of Harsco Corporation
As previously announced,
Sullivan added, “On behalf of the board of directors and RPM, I would like to recognize Kirk and John for their dedicated service of the past six years. Their guidance and leadership played an important role in our ability to improve our operational efficiency and profitability, particularly through our MAP to Growth and MAP 2025 initiatives. We look forward to building on the progress that Kirk and John helped create to make RPM an even stronger and higher performing organization.”
About RPM
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From Fortune ©2024
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