November 17, 2000
FROM: FOR:
Padilla Speer Beardsley Inc. Donaldson Company, Inc.
224 Franklin Avenue West P.O. Box 1299
Minneapolis, Minnesota 55404 Minneapolis, Minnesota 55440
(NYSE: DCI)
Chris Bauer Thomas VanHimbergen
(612) 871-8877 (952) 887-3l3l
Rich Sheffer
(952) 887-3753
FOR IMMEDIATE RELEASE
DONALDSON COMPANY ANNOUNCES
QUARTERLY DIVIDEND INCREASE
MINNEAPOLIS, Nov.17 -- Donaldson Company, Inc. (NYSE:DCI), announced
today that the Company's board of directors has increased the common stock cash
dividend for the 13th consecutive year.
The board declared a cash dividend of seven and one-half cents per
share, payable December 12, 2000 to shareholders of record as of November 30,
2000. The quarterly dividend was increased from seven cents per share. At the
current annual indicated dividend rate of 30 cents per share, cash dividends to
shareholders have increased at a compound annual growth rate of 16 percent since
1990. There are approximately 44,300,000 shares outstanding. The current
declaration is the 181st consecutive quarterly cash dividend paid by the
Company.
"This marks the 13th consecutive year that Donaldson has increased
its dividend, reflecting our record results in fiscal 2000 and our continuing
strong financial position," said William G. Van Dyke, chairman, president, and
chief executive officer.
Donaldson Company, Inc., is a leading worldwide
manufacturer of filtration systems and replacement parts. The company's product
mix includes: air and liquid filters and exhaust and emission control products
for heavy-duty mobile equipment; in-plant air cleaning systems; air intake
systems and exhaust products for industrial gas turbines; and specialized
filters for such diverse applications as computer disk drives, aircraft
passenger cabins and semiconductor processing. Products are manufactured at more
than three dozen Donaldson plants around the world and through five joint
ventures. The company's shares are traded on the New York Stock Exchange under
the symbol DCI.
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