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MADISON, Wis.--(BUSINESS WIRE)--
Spectrum Brands Holdings, Inc. ( SPB), a global and diversified consumer products company with market-leading brands, announced that its Board of Directors today declared a quarterly dividend of $0.25 per share on the Company’s common stock. The dividend is payable on March 12, 2013 to stockholders of record as of the close of business on February 14, 2013.
“We are pleased to declare our Company’s first regular quarterly common stock dividend in recognition of Spectrum Brands’ strong, consistent and ongoing ability to generate solid free cash flow,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “This reinforces our commitment to deliver attractive returns to our shareholders. In future years after 2013, we expect to evaluate the opportunity to increase our dividend based on the growth of our free cash flow.”
As indicated in mid-September 2012 when the Company paid its one-time special dividend of $1.00 per common share, this quarterly dividend payment will qualify as a return of capital to shareholders.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, VARTA®, George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot® and Black Flag®. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in approximately 140 countries. Spectrum Brands Holdings generated net sales of approximately $3.25 billion in fiscal 2012. On a pro forma basis following the Company’s December 2012 acquisition of the Hardware & Home Improvement Group (HHI) from Stanley Black & Decker, Spectrum Brands had net sales of more than $4 billion for fiscal 2012. For more information, visit www.spectrumbrands.com.
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