MELVILLE, N.Y. and DAVIDSON, N.C., Oct. 10,
2024 /PRNewswire/ -- MSC Industrial Supply Co.
(NYSE: MSM), a premier distributor of Metalworking and Maintenance,
Repair and Operations (MRO) products and services to industrial
customers throughout North
America, today announced that its Board of Directors has
declared a cash dividend of $0.85 per
share, representing an increase from the previous regular quarterly
dividend of $0.83 per share. The
$0.85 dividend is payable on
November 27, 2024 to shareholders of
record at the close of business on November
13, 2024.
About MSC Industrial Supply Co.
MSC Industrial
Supply Co. (NYSE:MSM) is a leading North American distributor of a
broad range of metalworking and maintenance, repair and operations
(MRO) products and services. We help our customers drive greater
productivity, profitability and growth with approximately 2.4
million products, inventory management and other supply chain
solutions, and deep expertise from more than 80 years of working
with customers across industries. Our experienced team of more than
7,000 associates works with our customers to help drive results for
their businesses - from keeping operations running efficiently
today to continuously rethinking, retooling and optimizing for a
more productive tomorrow. For more information on MSC Industrial,
please visit mscdirect.com.
Cautionary Note Regarding Forward-Looking
Statements
Statements in this press release may constitute
"forward-looking statements" under the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of present or historical fact, that address activities,
events or developments that we expect, believe or anticipate will
or may occur in the future, including statements about results of
operations and financial condition, expected future results,
expected benefits from our investment and strategic plans and other
initiatives, and expected future growth, profitability and return
on invested capital, are forward-looking statements. The words
"will," "may," "believes," "anticipates," "thinks," "expects,"
"estimates," "plans," "intends" and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those anticipated by these
forward-looking statements. In addition, statements which refer to
expectations, projections or other characterizations of future
events or circumstances, statements involving a discussion of
strategy, plans or intentions, statements about management's
assumptions, projections or predictions of future events or market
outlook and any other statement other than a statement of present
or historical fact are forward-looking statements. The inclusion of
any statement in this press release does not constitute an
admission by MSC or any other person that the events or
circumstances described in such statement are material. In
addition, new risks may emerge from time to time and it is not
possible for management to predict such risks or to assess the
impact of such risks on our business or financial results.
Accordingly, future results may differ materially from historical
results or from those discussed or implied by these forward-looking
statements. Given these risks and uncertainties, the reader should
not place undue reliance on these forward-looking statements. These
risks and uncertainties include, but are not limited to, the
following: general economic conditions in the markets in which we
operate; changing customer and product mixes; volatility in
commodity and energy prices, the impact of prolonged periods of
low, high or rapid inflation, and fluctuations in interest rates;
competition, including the adoption by competitors of aggressive
pricing strategies or sales methods; industry consolidation and
other changes in the industrial distribution sector; our ability to
realize the expected benefits from our investment and strategic
plans; our ability to realize the expected cost savings and
benefits from our restructuring activities and structural cost
reductions; the retention of key management personnel; the credit
risk of our customers; the risk of customer cancellation or
rescheduling of orders; difficulties in calibrating customer demand
for our products, which could cause an inability to sell excess
products ordered from manufacturers resulting in inventory
write-downs or could conversely cause inventory shortages of such
products; work stoppages, labor shortages or other disruptions,
including those due to extreme weather conditions, at
transportation centers, shipping ports, our headquarters or our
customer fulfillment centers; disruptions or breaches of our
information technology systems or violations of data privacy laws;
our ability to attract, train and retain qualified sales and
customer service personnel and metalworking and specialty sales
specialists; the risk of loss of key suppliers or contractors or
key brands or supply chain disruptions; changes to governmental
trade or sanctions policies, including the impact from significant
import restrictions or tariffs or moratoriums on economic activity
with certain countries or regions; risks related to opening or
expanding our customer fulfillment centers; our ability to estimate
the cost of healthcare claims incurred under our self-insurance
plan; litigation risk due to the nature of our business; risks
associated with the integration of acquired businesses or other
strategic transactions; financial restrictions on outstanding
borrowings; our ability to maintain our credit facilities or incur
additional borrowings on terms we deem attractive; the failure to
comply with applicable environmental, health and safety laws and
regulations and other laws and regulations applicable to our
business; the outcome of government or regulatory proceedings;
goodwill and other indefinite-lived intangible assets recorded as a
result of our acquisitions could become impaired; our common stock
price may be volatile due to factors outside of our control; the
significant influence that our principal shareholders will continue
to have over our decisions; and our ability to realize the desired
benefits from the share reclassification. Additional information
concerning these and other risks is described under "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" in our Annual and Quarterly Reports on
Forms 10-K and 10-Q, respectively, and in the other reports and
documents that we file with the United States Securities and
Exchange Commission. We expressly disclaim any obligation to update
any of these forward-looking statements, except to the extent
required by applicable law.
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SOURCE MSC Industrial Supply Co.