HARRISBURG, Pa., Nov. 14, 2006 (PRIMEZONE) -- The Board of Directors of Harsco Corporation (NYSE:HSC) today increased the Company's dividend rate by more than nine percent, declaring a regular quarterly cash dividend of $0.355 per share, or $1.42 per share on an annualized basis. The previous rate was $0.325 per quarter, or $1.30 on an annualized basis. The increased dividend is payable February 15, 2007 to stockholders of record as of January 16, 2007.
The action marks Harsco's 13th consecutive dividend increase in the past 13 years, and its 227th consecutive quarterly dividend paid to Harsco stockholders at the same or increased rate. The Company has paid dividends every year since 1939.
Commenting on the latest increase, Harsco President, CFO and Treasurer Salvatore D. Fazzolari said, "The Board's action reflects our long-standing commitment as well as capacity for rewarding Harsco stockholders with a predictable and immediate return on their shares, in parallel with our continuing growth strategies for constructing a balanced, global portfolio led by substantial, worldwide industrial services businesses."
The dividend increase continues on from Harsco's recently announced results for the third quarter 2006, in which the Company posted a 39 percent increase in diluted Earnings Per Share and a 26 percent increase in sales, and its announcement of an additional increase in its full-year 2006 earnings guidance to a range of $4.49 to $4.51 per share, up from its previous guidance of $4.32 to $4.42 per share which the Company had announced with its second quarter 2006 results in July.
Harsco Corporation is a diversified, worldwide company providing market-leading industrial services and products to major industries across the globe, including construction, energy, railroads and steel. The Company employs approximately 21,000 people in 45 countries of operation and recorded 2005 sales of $2.8 billion. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco can be found at www.harsco.com.
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