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The eBearing News
November 5, 2001
Timken Cuts Quarterly Dividend for First Time Since 1986
copyright © 2001 eBearing Inc.
The Timken Company (Canton, Ohio) will cut its quarterly dividend by 28%, from
$0.18 per share to $0.13 per share. This is Timken's first dividend cut since
1986 and the company's 318th consecutive dividend.
"At this time, most economists foresee a weak, gradual recovery. We believe
it is wise to anticipate that kind of recovery in our own business planning,"
said W.R. "Tim" Timken, Chairman and CEO. "When combining this dividend
decrease - our first since 1986 - with aggressive cost-reduction efforts,
we will be in a stronger positions to improve our performance level as the
anticipated economic recovery occurs."
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- by Bruce A. Carr
from individual research, tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
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eBearing.com ... for everything that moves
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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