HAWE Hydraulics North America announced the appointment of Chadwick Tuttle as their new General Manager and CEO. Mr. Tuttle brings extensive experience in international fluid handling. Prior to HAWE Chad held high responsibility positions in ITT Gould Pumps and Clyde Union Pumps.
Parker Hannifin Corporation announced that its Board of Directors increased the company’s regular quarterly cash dividend to 63 cents per share of common stock payable December 5, 2014 to shareholders of record as of November 10, 2014. This represents a 31 percent increase over the previous quarterly dividend of 48 cents per common share. The Board also authorized the repurchase of up to 35 million shares of common stock, replacing the existing share repurchase authorization.
“This significant increase in our quarterly dividend and share repurchase authorization reflects the Board’s confidence in our strong balance sheet position, consistent cash flow and long term outlook,” said Chairman, CEO and President, Don Washkewicz. “The dividend increase allows us to take a meaningful step toward our goal of a 30 percent dividend payout ratio. We continue to allocate capital in a way that allows us to fund growth initiatives, including acquisitions and innovation, while returning value to our shareholders through dividends and share repurchases.”
In addition, Parker will release its fiscal 2015 first quarter earnings before the market opens on Tuesday, October 28, 2014, followed by a conference call at 10:00 AM EST. For more information click here.
Parker also announced the retirement of Pamela J. Huggins, Vice President and Treasurer, effective December 31, 2014, after 31 years of dedicated service. Robin J. Davenport, currently Vice President of Business Planning and Development, has been appointed to the newly created role of Vice President, Corporate Finance where she will assume responsibility for all of the functions currently reporting to Ms. Huggins in addition to business planning and development. David B. Ostro, currently Assistant Treasurer, has been promoted to Vice President, Treasurer, reporting to Ms. Davenport. Click here for the full press release.
Sun Hydraulics Corporation announced that its Board of Directors has elected to authorize a special cash dividend in the amount of $1.00 per share, payable on October 24, 2014, to shareholders of record as of October 10, 2014. Allen Carlson, Sun’s CEO and president, commented, “We are in a very strong cash position and management agrees with the Board’s decision to pay a special dividend. We will continue to do the things necessary to grow our business, including investments in marketing activities in Asia, funding our normal capex and taking advantage of M&A opportunities.”
·······In addition, Sun Hydraulics Corporation will release its third quarter financial results on November 3, 2014 after the market close. The Company will hold a conference call and webcast on November 4, 2014 at 9:00 AM EST, to discuss these results. For more information click here.
This holiday season, we are thankful for each of our members. All your staff at NFPA want to thank you for all of the efforts that you have put in to help grow the fluid power industry. We couldn’t fulfill our mission without your dedication and support. Enjoy this time off with your loved ones,…
Doug is the Application Engineering Supervisor for HAWE North America, a manufacturer of hydraulic power units, pumps, valves and cylinders. HAWE will be showcasing their water resistant hydraulics that help deliver power to speed boats at IFPE – the International Fluid Power Exposition — and we invited Doug into our forum to learn more about…