Stockholders Elect Four Directors
MEDINA, Ohio, Oct. 4 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) today announced at its annual meeting of stockholders that its
board of directors declared a regular quarterly cash dividend of $0.190 per
share, payable on October 31, 2007, to stockholders of record as of October
19, 2007. This payment represents an 8.6% increase over the $0.175 quarterly
cash dividend paid at this time last year.
This action marks RPM's 34th consecutive year of increased cash dividends
paid to its stockholders, which places RPM in an elite category of less than
half of one percent of all 19,000 publicly-traded U.S. companies. Only 70
other companies, besides RPM, have consecutively paid an increasing annual
dividend for this period of time or longer, according to the 2008 edition of
America's Finest Companies. At a share price of $23.50, RPM's dividend yield
would be 3.23%.
"Today's increase of our dividend to $0.190 is in line with our stated
intent to annually grow our dividend, which is enabled by our strong cash
flow, stable business performance and outlook for continuing growth," said
president and chief executive officer Frank C. Sullivan.
At the meeting, stockholders re-elected three Class I members to its board
of directors to three-year terms expiring in 2010; those elected were William
A. Papenbrock, Frank C. Sullivan and Thomas C. Sullivan. In addition,
stockholders elected David A. Daberko to fill the vacancy created by Edward B.
Brandon, a director in Class I, who retired at the meeting in accordance with
RPM's director retirement policy.
Stockholders also approved a proposal to adopt The Amended and Restated
1995 Incentive Compensation Plan, which updated the company's 1995 Incentive
Additionally, stockholders ratified the appointment of Ernst & Young LLP
as RPM's independent registered public accounting firm for the fiscal year
ending May 31, 2008.
RPM International Inc., a holding company, owns subsidiaries that are
world leaders in specialty coatings and sealants serving both industrial and
consumer markets. RPM's industrial products include roofing systems, sealants,
corrosion control coatings, flooring coatings and specialty chemicals.
Industrial brands include Stonhard, Tremco, illbruck, Carboline, Day-Glo, Euco
and Dryvit. RPM's consumer products are used by professionals and do-it-
yourselfers for home maintenance and improvement, automotive and boat repair
and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-
Oleum, DAP, Varathane, Bondo and Testors.
For more information, contact P. Kelly Tompkins, executive vice president
and chief administrative officer, at 330-273-5090 or firstname.lastname@example.org.
SOURCE RPM International Inc.
CONTACT: P. Kelly Tompkins, executive vice president and chief
administrative officer of RPM International Inc., +1-330-273-5090,
Web site: http://www.rpminc.com