SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 11, 2000
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The Stanley Works
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(Exact name of registrant as specified in charter)
Connecticut 1-5224 06-0548860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Stanley Drive, New Britain, Connecticut 06053
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(860) 225-5111
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Not Applicable
(Former name or former address, if changed since last report)
Exhibit Index is located on Page 4
Page 1 of 7 Pages
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Item 5. Other Events.
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1. On July 11, 2000 John G. Breen and John D.
Opie were elected to the Registrant's Board of Directors. Attached as Exhibit
20(i) is a copy of the Registrant's Press Release dated July 12, 2000 announcing
the election of the two new directors.
2. In a Press Release dated July 12, 2000 the
Registrant announced a third quarter regular dividend of $.23 per share on the
Registrant's common stock. Attached as Exhibit 20(ii) is a copy of the
Registrant's Press Release.
Item 7. Financial Statements and Exhibits.
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(c) 20(i) Press Release dated July 12, 2000
announcing the election of John G. Breen
and John D. Opie to the Board of
Directors.
20(ii) Press Release dated July 12, 2000
announcing third quarter dividend on the
company's common stock.
Page 2 of 7 Pages
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE STANLEY WORKS
Date: July 12, 2000 By: Jennifer O. Estabrook
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Name: Jennifer O. Estabrook
Title:Vice President, General
Counsel and Secretary
Page 3 of 7 Pages
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EXHIBIT INDEX
Current Report on Form 8-K
Dated July 11, 2000
Exhibit No. Page
20 (i) 5
20 (ii) 7
Page 4 of 7 Pages
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Exhibit 20 (i)
FOR IMMEDIATE RELEASE
THE STANLEY WORKS ADDS JOHN G. BREEN AND JOHN D. OPIE TO BOARD
OF DIRECTORS
New Britain, Connecticut, July 12, 2000 ... The Board of Directors of The
Stanley Works (NYSE: "SWK") announced the election of two new members. John G.
Breen, former Chairman and Chief Executive Officer of The Sherwin-Williams
Company and John D. Opie, former Vice Chairman of the Board and Executive
Officer of General Electric Company, were elected to Stanley's Board.
Mr. Breen joined Sherwin-Williams in 1979 and led the company to 22 consecutive
years of earnings improvement, during which time his company's market value
increased 41 times from $108 million to over $4 billion. John M. Trani, Chairman
and Chief Executive Officer of The Stanley Works, stated: "Jack Breen has a
complete knowledge of the markets, customers and end users we serve. His
experience with mass merchandisers and home improvement centers is extensive and
will add great value to our efforts to grow our business."
Mr. Opie began a 39-year career with General Electric in 1961. After numerous
sales, manufacturing and marketing assignments, his appointments included the
top management position in five different operating units. Mr. Opie served as
President and CEO of GE Lighting from 1986 to 1995 and was promoted to the
position of Vice Chairman of the General Electric Company. He retired in April.
Mr. Trani commented: "John Opie brings an absolute wealth of business experience
to Stanley. His counsel will be invaluable to me and the other Board members as
Stanley embarks upon extending its distribution reach."
The Stanley Works, an S&P 500 company, is a worldwide supplier of tools,
hardware and doors for professional, industrial and consumer use.
Page 5 of 7 Pages
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Investor Gerard J. Gould Media Vance N. Meyer
Contact: Vice President, Investor Relations Contact: Director, Communications
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(860) 827-3833 office & Public Affairs
(860) 658-2718 home (860) 827-3871 office
[email protected] (203) 795-0581 home
The Stanley Works corporate press releases are available on the company's
corporate web site at http://www.stanleyworks.com. Click on "Investor Relations"
and then on "News Releases."
Page 6 of 7 Pages
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Exhibit 20 (ii)
FOR IMMEDIATE RELEASE
THE STANLEY WORKS ANNOUNCES 33RD CONSECUTIVE ANNUAL DIVIDEND INCREASE
Company Increases Dividend Payment By 4.5%
New Britain, Connecticut, July 12, 2000 ... The Stanley Works (NYSE: "SWK")
announced today that its Board of Directors approved a third quarter regular
dividend of $.23 per share on the company's common stock. The dividend is
payable on Tuesday, September 26, 2000 to shareowners of record on Tuesday,
September 5, 2000. This represents a 4.5% increase in the dividend rate and
extends the company's records for the longest consecutive annual and quarterly
dividend payments among industrial companies listed on the New York Stock
Exchange. This is the 33rd consecutive year in which Stanley has increased the
annual dividend payment to shareowners.
John M. Trani, Chairman and Chief Executive Officer, said: "Our strong cash flow
has enabled us to once again increase dividends to our shareowners. In addition,
we are supplementing the dividend with the repurchase of shares of our common
stock and have repurchased over 3 million shares in the first half of this year.
Our current repurchase program of up to 10 million shares gives us the
flexibility to continue to use this avenue to enhance shareowner value."
The Stanley Works, an S&P 500 company, is a worldwide supplier of tools,
hardware and doors for professional, industrial and consumer use.
Investor Gerard J. Gould Media Vance N. Meyer
Contact: Vice President, Investor Relations Contact: Director, Communications
-------- --------
(860) 827-3833 office & Public Affairs
(860) 658-2718 (860) 827-3871 office
[email protected] (203) 795-0581 home
The Stanley Works corporate press releases are available on the company's
corporate web site at http://www.stanleyworks.com. Click on "Investor Relations"
and then on "News Releases."
Page 7 of 7 Pages
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