PAR - Parker Increases Quarterly Cash Dividend 10% to $1.63 per Share

CLEVELAND, April 25, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors has declared a quarterly cash dividend of $1.63 per share of common stock to shareholders of record as of May 10, 2024. The dividend is payable June 7, 2024. The dividend represents a 10% increase over the previous quarterly cash dividend of $1.48 per common share and will be the 296 ^th consecutive quarterly dividend paid by the company.

“Consistently increasing our annual dividend, a record that now stands at 68 consecutive fiscal years, remains an important priority,” said Jenny Parmentier, Chairman and Chief Executive Officer. “Our strong cash flow generation along with strategic capital deployment continues to create many opportunities for us to drive shareholder value.”

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 68 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

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Contact:Media –Aidan Gormley, Director, Global Communications and Branding216/896-3258aidan.gormley@parker.comFinancial Analysts –Jeff Miller, Vice President, Investor Relations216/896-2708jeffrey.miller@parker.com