HARRISBURG, Pa., Nov. 16, 2001 (PRIMEZONE) -- The Board of Directors of Harsco Corporation (NYSE:HSC) today declared a regular quarterly cash dividend of 25 cents per share, or $1.00 per share on an annualized basis, an increase of 4.2 percent in the dividend rate.
Commenting on the Board's action, Harsco Chairman, President and Chief Executive Officer, Derek C. Hathaway, said, "The decision by the Board to increase the cash dividend reflects its continued confidence in the future cash flows of Harsco. It is consistent with management's balanced strategies for growth and enhancement of shareholder wealth. This action will not limit our current and future debt reduction efforts, nor limit our ability to consider future strategic acquisitions. We continue to believe that it is important to present our shareholders with an immediate return on their investment, in the form of a steady cash dividend, particularly in these times of significant equity market volatility."
The dividend is payable February 15, 2002 to shareholders of record as of January 15, 2002. The action marks the 207th consecutive cash dividend paid to Harsco stockholders at the same or increased rate. Harsco has paid dividends each year since 1939, and has now increased its dividend eight consecutive years, and nine of the last 10 years.
Harsco Corporation is a $2 billion worldwide industrial services and products company serving the infrastructure development, steel, railway transportation, gas and energy industries. The company employs more than 20,000 people in 40 countries. Additional information about Harsco can be found at www.harsco.com.