MEDINA, Ohio, Oct 11, 2002 /PRNewswire-FirstCall via COMTEX/ --
* Shareholders Re-Elect Directors * Carbonari to Succeed Gustin on Board RPM, Inc.
(NYSE: RPM) announced today at its annual meeting of shareholders that its Board
of Directors declared a quarterly cash dividend of $0.13 per common share, a 4
percent increase from the previous $0.125 per common share. This represents the
29th consecutive year of cash dividend increases and will be payable October 31,
2002, to shareholders of record as of October 21, 2002. At a share price of $15,
RPM's dividend will now yield 3.5 percent.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010126/RPMLOGO )
The company also announced that its shareholders today re-elected Dr. Max D.
Amstutz, E. Bradley Jones, Albert B. Ratner and Dr. Jerry Sue Thornton to the
company's Board of Directors, with terms expiring in 2005.
Carbonari to Succeed Gustin on Board
In addition, the company announced the retirement of Lorrie Gustin, who has
served on RPM's board for 11 years. She will be succeeded by Bruce A. Carbonari,
president and chief executive officer of Fortune Brands Home and Hardware, a
subsidiary of Fortune Brands, Inc. Listed on the NYSE, Fortune Brands operating
units include Moen Incorporated, one of the world's largest producers of
residential and commercial plumbing products; MasterBrand Cabinets, a leading
producer of kitchen and bath cabinets; Master Lock Company, the leading
manufacturer of padlocks; and Waterloo Industries, the number one tool box
manufacturer in the world. Prior to joining the Moen business as president and
chief operating officer in 1990, Mr. Carbonari was executive vice president and
chief financial officer of Stanadyne, Inc., Moen's parent company at that time.
He began his career at PricewaterhouseCoopers prior to joining Stanadyne in
1981. Carbonari will fill the remainder of Gustin's term, which will expire at
the annual meeting of shareholders in 2003.
RPM, Inc. is a world leader in specialty coatings serving both industrial and
consumer markets. RPM's industrial products including roofing systems, sealants,
corrosion control coatings, flooring coatings and specialty chemicals. Its
consumer products are used by professionals and do-it- yourselfers for home,
automotive and boat maintenance and by hobbyists. Leading industrial brands
include Stonhard, Tremco, Carboline, Day-Glo, Euco and Dryvit. Consumer brands
include Zinsser, Rust-Oleum, DAP, Varathane, Bondo, Tremclad and Testors.
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SOURCE RPM, Inc.
CONTACT: Glenn R. Hasman, vice president of finance and communications
of RPM, Inc., +1-330-273-8820
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