Matthews International Increases Quarterly Dividend
PITTSBURGH, Nov. 12, 2015 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ:MATW) announced that its Board of Directors declared, at its regularly scheduled meeting today, a dividend of $0.15 per share on the Company’s common stock for the quarter ended September 30, 2015, representing an increase of 15.4% in the Company’s dividend rate.
Mr. Bartolacci, President and Chief Executive Officer, stated: “The increase in the quarterly dividend rate is a reflection of the Company’s continued strong operating cash flow and our confidence in the integration progress for our recent acquisitions.”
The dividend is payable December 7, 2015 to stockholders of record November 23, 2015.
Matthews International Corporation, headquartered in Pittsburgh, Pennsylvania, is a provider principally of brand solutions, memorialization products and industrial automation solutions. Brand solutions include graphics imaging products and services, and merchandising solutions. Memorialization products consist primarily of bronze and granite memorials and other memorialization products, caskets and cremation equipment for the cemetery and funeral home industries. Industrial automation solutions include marking products and fulfillment systems. The Company's products and services include brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services); cast bronze and granite memorials and other memorialization products; caskets; cast and etched architectural products, cremation equipment and cremation-related products; mausoleums; marking and coding equipment and consumables, and industrial automation products and order fulfillment systems for identifying, tracking, picking, and conveying various consumer and industrial products.
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Factors that could cause the Company’s results to differ materially from the results discussed in such forward-looking statements principally include changes in economic conditions, competitive environment, death rate, foreign currency exchange rates, and technological factors beyond the Company’s control.
Steven F. Nicola Chief Financial Officer 412-442-8262Source: Matthews International Corporation
Released November 12, 2015