Fastenal Company Announces Cash Dividend

·4 min read

WINONA, Minn., January 18, 2022--(BUSINESS WIRE)--Fastenal Company (Nasdaq:FAST) reported its board of directors declared a dividend of $0.31 per share to be paid in cash on March 2, 2022 to shareholders of record at the close of business on February 2, 2022. 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 2022, 2021, and 2020, we paid (or declared) dividends as follows:

Year

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

Sub-Total
(Regular)

Fourth
Quarter
(Special)

Total

2022

$

0.31

2021

$

0.28

$

0.28

$

0.28

$

0.28

$

1.12

$

0.00

$

1.12

2020

$

0.25

$

0.25

$

0.25

$

0.25

$

1.00

$

0.40

$

1.40

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

Average Per

Total

Dividends per Share

Total Value of

Total Number

Share Price of

Dividend

Dividends

Regular

Special

Total

Common Stock

of Shares

Common Stock

Year

Payments

Paid

Dividend

Dividend

Dividend

Purchased

Purchased

Purchased

2022

One (1)

$

178.4

$

0.31

$

$

0.31

$

$

2021

Four

$

643.7

$

1.12

$

$

1.12

$

$

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

Ten Year Total

$

4,142.9

$

6.77

$

0.40

$

7.17

$

652.1

29,600,000

$

22.03

(1)

The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 575.5 million shares outstanding at December 31, 2021.

(2)

There was a supplemental dividend paid in December 2020.

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

About Fastenal

Fastenal supplies a broad offering of industrial, construction, and safety products via more than 3,200 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a "high-touch, high-tech" approach encapsulated by our motto, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.

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/20220118006073/en/

Contacts

Ellen Stolts
Director of Accounting - Reporting and Reconciliation
507.313.7282

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