From the Wires
MSA Declares Special Dividend
By: PR Newswire
Dec. 4, 2012 03:03 PM
PITTSBURGH, Dec. 4, 2012 /PRNewswire/ -- The Board of Directors of MSA (NYSE: MSA) today declared a special one-time dividend of 28 cents per share on common stock, to be paid in cash on December 28, 2012 to shareholders of record on December 14, 2012. Today's announcement will not affect the previously announced fourth quarter dividend payable on December 10, 2012 to shareholders of record on November 14, 2012. Nor will it impact the company's dividend plans for 2013.
"By issuing this special dividend, we see this as an opportunity to generate greater value for our shareholders given the expectation of higher tax rates in 2013," said William M. Lambert, MSA President and CEO.
Established in 1914, MSA is the global leader in the development, manufacture and supply of safety products that protect people and facility infrastructures. Many MSA products integrate a combination of electronics, mechanical systems and advanced materials to protect users against hazardous or life-threatening situations. The company's comprehensive line of products is used by workers around the world in a broad range of industries, including the fire service, the oil, gas and petrochemical industry, construction, mining and utilities, as well as the military. Principal products include self-contained breathing apparatus, fixed gas and flame detection systems, handheld gas detection instruments, head protection products, fall protection devices and thermal imaging cameras. The company also provides a broad range of consumer and contractor safety products through a joint venture with MCR Safety. These products are marketed and sold under the Safety Works® brand. MSA, based north of Pittsburgh in Cranberry Township, Pa., has annual sales of approximately $1.2 billion, manufacturing operations in the United States, Europe, Asia and Latin America, and 42 international locations. Additional information is available on the company's Web site at www.MSAsafety.com. Information on Safety Works products can be found at www.SafetyWorks.com.
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