Fastenal Company Announces Cash Dividend

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Fastenal Company (Nasdaq:FAST) has announced a cash dividend of $0.39 per share, payable on November 22, 2024 to shareholders of record as of October 25, 2024. The company has a history of paying dividends since 1991, evolving from annual to quarterly payments in 2011. Fastenal's board intends to continue quarterly dividends, subject to financial conditions and other factors.

The press release provides a detailed breakdown of Fastenal's dividend history, including regular and special dividends from 2022 to 2024. It also presents a 10-year overview of dividend payments and stock repurchase activities. In 2024, Fastenal projects to pay a total of $1.56 per share in regular dividends. The company did not repurchase any common stock in the third quarter of 2024 and has authority to purchase up to 6,200,000 additional shares under its current authorization.

Positive

Consistent quarterly dividend payments since 2011
Increased regular dividend from $1.40 per share in 2023 to $1.56 per share in 2024
Total dividends paid over the last ten years amount to $6,051.8 million
Authority to purchase up to 6,200,000 additional shares of common stock

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None.

10/10/2024 - 04:15 PM

WINONA, Minn.--(BUSINESS WIRE)-- Fastenal Company (Nasdaq:FAST) (collectively referred to as 'Fastenal' or by terms such as 'we', 'our', or 'us') reported its board of directors declared a dividend of $0.39 per share to be paid in cash on November 22, 2024 to shareholders of record at the close of business on October 25, 2024. Except for share and per share information, dollar amounts are stated in millions.

We 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, we have previously paid special one-time dividends in December 2008, December 2012, December 2020, and December 2023. 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 Fastenal and such other factors as are deemed relevant by the board of directors at that time.

In 2024, 2023, and 2022, we paid (or declared) dividends as follows:

Year	听	First Quarter		听	Second Quarter		听	Third Quarter		听	Fourth Quarter		听	Sub-Total (Regular)		Fourth Quarter (Special)		听	Total
2024	听	$	0.39	听	$	0.39	听	$	0.39	听	$	0.39	听	$	1.56	听		听	听
2023	听	$	0.35	听	$	0.35	听	$	0.35	听	$	0.35	听	$	1.40	$	0.38	听	$	1.78
2022	听	$	0.31	听	$	0.31	听	$	0.31	听	$	0.31	听	$	1.24	$	0.00	听	$	1.24

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

听	听	听		听		听	听		听	听		听	听		听		Average Per
听	听	Total		Dividends per Share									Total Value of		Total Number		Share Price of
听	Dividend	Dividends		Regular		听	Special		听	Total		听	Common Stock		of Shares		Common Stock
Year	Payments	Paid		Dividend		听	Dividend		听	Dividend		听	Purchased		Purchased		Purchased
2024	Four ⁽¹⁾	$	893.3	$	1.56	听	$	鈥�	听	$	1.56	听	$	鈥�	听	鈥�	$	鈥�
2023	Five ⁽²⁾	$	1,016.8	$	1.40	听	$	0.38	听	$	1.78	听	$	鈥�	听	鈥�	$	鈥�
2022	Four	$	711.3	$	1.24	听	$	鈥�	听	$	1.24	听	$	237.8	听	5,000,000	$	47.58
2021	Four	$	643.7	$	1.12	听	$	鈥�	听	$	1.12	听	$	鈥�	听	鈥�	$	鈥�
2020	Five ⁽²⁾	$	803.4	$	1.00	听	$	0.40	听	$	1.40	听	$	52.0	听	1,600,000	$	32.54
2019	Four	$	498.6	$	0.87	听	$	鈥�	听	$	0.87	听	$	鈥�	听	鈥�	$	鈥�
2018	Four	$	441.9	$	0.77	听	$	鈥�	听	$	0.77	听	$	103.0	听	4,000,000	$	25.75
2017	Four	$	369.1	$	0.64	听	$	鈥�	听	$	0.64	听	$	82.6	听	3,800,000	$	21.72
2016	Four	$	346.6	$	0.60	听	$	鈥�	听	$	0.60	听	$	59.5	听	3,200,000	$	18.58
2015	Four	$	327.1	$	0.56	听	$	鈥�	听	$	0.56	听	$	293.0	听	14,200,000	$	20.63
Ten Year Total	听	$	6,051.8	$	9.76	听	$	0.78	听	$	10.54	听	$	827.9	听	31,800,000	$	26.03

⁽¹⁾	The Total Dividends Paid amount includes the estimated impact from this announcement. The estimate is calculated using the 572.9 million shares outstanding at September 30, 2024.
⁽²⁾	There was a supplemental dividend paid in December 2020 and December 2023.

In the third quarter of 2024, we did not repurchase any of our common stock.

We have authority to purchase up to 6,200,000 additional shares of our common stock under the July 12, 2022 authorization. This authorization does not have an expiration date.

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

About Fastenal

Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,500 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^庐 (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain 鈥� a "high-touch, high-tech" approach encapsulated by our tagline, Where Industry Meets Innovation^鈩�. Our local service teams are supported by 17 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 our website at .

Cautionary Note Regarding Forward-Looking Statements

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 Fastenal 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 or stock repurchases, could cause us to decide not to pay a dividend in the future or not to repurchase common stock pursuant to the existing share repurchase authorization. A discussion of other risks and uncertainties is included in our filings with the Securities and Exchange Commission, including our most recent annual report and subsequent quarterly reports. FAST-D

View source version on businesswire.com:

Taylor Ranta Oborski

Accounting Manager

507.313.7959

Source: Fastenal Company

FAQ

What is Fastenal's (FAST) latest declared dividend amount?

Fastenal (FAST) has declared a dividend of $0.39 per share to be paid on November 22, 2024.

When is the record date for Fastenal's (FAST) upcoming dividend?

The record date for Fastenal's (FAST) upcoming dividend is October 25, 2024.

How much is Fastenal's (FAST) total projected regular dividend for 2024?

Fastenal's (FAST) total projected regular dividend for 2024 is $1.56 per share.

Has Fastenal (FAST) repurchased any shares in the third quarter of 2024?

No, Fastenal (FAST) did not repurchase any of its common stock in the third quarter of 2024.

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