HARRISBURG, Pa., Nov. 11, 2008 (GLOBE NEWSWIRE) -- The Board of Directors of Harsco Corporation (NYSE:HSC) today declared a regular quarterly cash dividend of $0.195 per share, or $0.78 per share on an annualized basis. The dividend is payable February 17, 2009 to stockholders of record as of January 16, 2009.
The dividend represents the 235th consecutive quarterly dividend paid to Harsco stockholders at the same or increased rate. The Company has paid dividends every year since 1939. At the same time, the Company is also enhancing stockholder value by commencing the repurchase of its shares, as noted in its recent third quarter results press release. The Company has repurchased close to two million shares since its quarterly black-out period expired on October 31, for a total of nearly three million shares since the start of this year. The Company continues to believe that at current levels, its shares are significantly undervalued. The Company's current share repurchase authorization gives it the flexibility to repurchase approximately an additional three million shares.
Commenting on the dividend, Harsco Chairman and CEO Salvatore D. Fazzolari said, "It's important that our stockholders know they can continue to count on Harsco for dependable and consistent dividends, particularly in these challenging times."
Harsco Corporation is one of the world's leading diversified industrial services companies, serving key industries that play a fundamental role in worldwide economic growth and development, including infrastructure, metals and railways. The Company employs approximately 23,000 people in 50 countries of operation. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information can be found at www.harsco.com.
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