SHELTON, CT. (October 15, 2013) - The Board of Directors of Hubbell Incorporated (NYSE: HUBA, HUBB) today declared an 11% increase in the common stock dividend rate. The new annual payment rate of $2.00 per share or $0.50 per quarter compares to the former rate of $1.80 or $0.45 per quarter. The dividend will be paid on December 13, 2013 to shareholders of record on November 29, 2013.
"The dividend increase reflects our confidence in the strength of our businesses and Hubbell's ability to generate strong cash flow," said Hubbell Chief Executive Officer David G. Nord. "The increase is consistent with our capital allocation strategy to invest in our businesses, complete acquisitions and return cash to shareholders."
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. With 2012 revenues of $3.0 billion, Hubbell Incorporated operates manufacturing facilities in the United States, Canada, Switzerland, Puerto Rico, Mexico, the People's Republic of China ("China"), Italy, the United Kingdom, Brazil and Australia. Hubbell also participates in joint ventures in Taiwan and Hong Kong, and maintains sales offices in Singapore, China, India, Mexico, South Korea, and countries in the Middle East. The corporate headquarters is located in Shelton, CT.
Contact: James M. Farrell
40 Waterview Drive
P.O. Box 1000
Shelton, Connecticut 06484