CLEVELAND (April 21) — Parker Hannifin Corp.´s board of directors declared a regular quarterly cash dividend of 23 cents per share of common stock, payable June 2, 2006, to shareholders of record as of May 18, 2006.
The dividend payment to shareholders, which comprises a distribution of about $28 million, extends the company´s streak of annual dividend increases to 50 consecutive years, Parker said. The accomplishment is one of the top five longest-running dividend-increase records in the S&P 500 index, the company said.
Parker´s rubber and elastomeric products include insulators, seals, gaskets, O-rings, spacers and washers, bushings, conductive extrusions, custom molded rubber shapes, hose products, and molded assemblies.