Dividend Increase Represents 42nd Consecutive Annual Increase
Chicago, IL - W.W. Grainger, Inc. announced today that its board of directors voted to raise the quarterly cash dividend by 16 percent to 93 cents per share payable on June 1, 2013, to shareholders of record on May 13, 2013. Grainger has provided 42 consecutive years of increased dividends, a record that only 3 percent of companies in the S&P 500 can claim.
"We have a strong record of providing solid returns to shareholders," said Grainger Chairman, President and Chief Executive Officer Jim Ryan. "The Board's commitment to increasing our dividend is reflective of their confidence in Grainger's future performance."
Grainger's Shareholders Elect 11 Directors And Other Meeting Highlights
Chicago, IL - At the Grainger annual shareholder meeting held in Lake Forest, Illinois, today, Grainger Chairman, President and Chief Executive Officer Jim Ryan provided an update on the state of the business and offered a recap of 2012 full year and 2013 first quarter performance. A copy of his speech is available at www.grainger.com/investor.
Shareholders re-elected the following 11 directors:
Brian P. Anderson
V. Ann Hailey
William K. Hall
Stuart L. Levenick
John W. McCarter, Jr.
Neil S. Novich
Michael J. Roberts
Gary L. Rogers
James T. Ryan
E. Scott Santi
James D. Slavik
In addition, the shareholders ratified the appointment of Ernst & Young LLP as independent auditor for the year 2013. Relative to Say on Pay, shareholders voted in favor of the advisory resolution on executive compensation.