HARRISBURG, Pa., Nov. 16, 2004 (PRIMEZONE) -- Harsco Corporation (NYSE:HSC) announced today that its Board of Directors has authorized a 9.1 percent increase in the Company's dividend rate and declared a regular quarterly cash dividend of $0.30 cents per share, or $1.20 per share on an annualized basis. The increased dividend is payable February 15, 2005 to stockholders of record as of January 14, 2005.
The Board has also extended its standing authorization to repurchase up to one million shares of the Company's common stock, which had been scheduled to expire on January 31, 2005. The authorization now runs to January 31, 2006.
Harsco Chairman, President and Chief Executive Officer Derek C. Hathaway said, "These actions taken today by the Board underscore Harsco's capacity and commitment for increasing value for our stockholders. Our dividend increase reflects our long-held belief in rewarding Harsco stockholders with an immediate return on their investment." Harsco has paid dividends every year since 1939, including dividend increases in each of the past 11 years. This latest dividend marks the Company's 219th consecutive quarterly cash dividend paid to Harsco stockholders at the same or increased rate.
Harsco Corporation is a diversified, worldwide industrial services and products company with annual sales in excess of $2 billion. Harsco's market-leading businesses provide mill services, access services, gas containment and control technologies, and engineered products and services to customers worldwide. The company employs 18,000 people at over 400 locations in more than 40 countries of operation. Additional information about Harsco can be found at www.harsco.com.
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