Stockholders Re-Elect Four Directors,
Restricted Stock and Incentive Compensation Plans Approved
MEDINA, Ohio, Oct. 5 /PRNewswire/ -- RPM International Inc. (NYSE: RPM)
announced today at its annual meeting of stockholders that its Board of
Directors declared a quarterly cash dividend of $0.175 per common share, a 9.4
percent increase over the previous $0.160 per common share.
This action marks RPM's 33rd consecutive year of cash dividend increases,
which places RPM in an elite category of less than a half percent of all
publicly-traded U.S. companies. Only 80 of the 19,000 U.S. public companies
have consecutively paid an increasing annual dividend for this period of time
or longer, according to the 2007 edition of American's Finest Companies. The
dividend will be payable October 31, 2006, to stockholders of record as of
October 20, 2006. At a share price of $19.00, RPM's new dividend yield would
be 3.7 percent.
"Given RPM's strong business outlook and the declining impact of asbestos
litigation, today's increase of our dividend to $0.70 annually reflects our
intent to more aggressively grow our dividend going forward," said President
and Chief Executive Officer Frank C. Sullivan. "Driving our improved outlook
are our organic growth initiatives, domestic and international acquisition
opportunities and expectations for moderating raw materials costs. At the
same time our asbestos exposure is decreasing as the incidence of asbestos-
related disease in the population declines, fraud in the legal system is
uncovered and state and federal tort reform addresses the issue."
At the meeting, stockholders re-elected four Class II members to its Board
of Directors to three-year terms expiring in 2009; those elected were Bruce A.
Carbonari, James A. Karman, Donald K. Miller and Joseph P. Viviano.
Stockholders also approved proposals to adopt the 2007 Restricted Stock
Plan and the 2007 Incentive Compensation Plan. The 2007 Restricted Stock Plan
replaces the company's 1997 Restricted Stock Plan, which by its terms expires
on May 31, 2007. The 2007 Incentive Compensation Plan replaces the 1995
Incentive Compensation Plan as the primary annual cash bonus program for RPM's
executive officers beginning with fiscal 2008. The purpose of both plans is
to promote the interests of the company and its stockholders by continuing to
attract, retain, motivate and award employees by providing incentives for
superior performance and increasing the value of RPM's common stock.
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 Glenn R. Hasman, vice president - finance
and communications, at 330-273-8820 or email@example.com.
This press release contains "forward-looking statements" relating to the
business of the company. These forward-looking statements, or other statements
made by the company, are made based on management's expectations and beliefs
concerning future events impacting the company and are subject to
uncertainties and factors (including those specified below) which are
difficult to predict and, in many instances, are beyond the control of the
company. As a result, actual results of the company could differ materially
from those expressed in or implied by any such forward-looking statements.
These uncertainties and factors include (a) general economic conditions; (b)
the price, supply and capacity of raw materials, including assorted resins and
solvents; packaging, including plastic containers; and transportation
services, including fuel surcharges; (c) continued growth in demand for the
company's products; (d) legal, environmental and litigation risks inherent in
the company's construction and chemicals businesses and risks related to the
adequacy of the company's insurance coverage for such matters; (e) the effect
of changes in interest rates; (f) the effect of fluctuations in currency
exchange rates upon the company's foreign operations; (g) the effect of non-
currency risks of investing in and conducting operations in foreign countries,
including those relating to domestic and international political, social,
economic and regulatory factors; (h) risks and uncertainties associated with
the company's ongoing acquisition and divestiture activities; (i) risks
related to the adequacy of its contingent liability reserves, including for
asbestos-related claims; and other risks detailed in the company's filings
with the Securities and Exchange Commission, including the risk factors set
forth in the company's Annual Report on Form 10-K for the year ended May, 31
2006, as the same may be updated from time to time. RPM does not undertake any
obligation to publicly update or revise any forward-looking statements to
reflect future events, information or circumstances that arise after the date
of this release.
SOURCE RPM International Inc.
CONTACT: Glenn R. Hasman, vice president-finance and communications of
RPM International Inc., 1-330-273-8820, or firstname.lastname@example.org
Web site: http://www.rpminc.com
RPM International Inc. (NYSE: RPM) owns subsidiaries that are world leaders in coatings, sealants, building materials and related services. From homes to precious landmarks worldwide, their brands are trusted by consumers and professionals alike to protect, improve and beautify. Among its leading consumer brands are Rust-Oleum, DAP and Zinsser. Learn more about RPM brands >>
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