|HON INDUSTRIES Announces 194th Consecutive Quarterly Dividend|
MUSCATINE, Iowa--(BUSINESS WIRE)--Aug. 4, 2003--HON INDUSTRIES Inc. (NYSE:HNI) announced that its Board of Directors declared a quarterly dividend of 13 cents per share on its common stock.
This is the 194th consecutive dividend the Company has paid since its first dividend in 1955. The dividend will be payable on August 29, 2003, to shareholders of record at the close of business August 14, 2003.
HON INDUSTRIES Inc. provides products and solutions for the home and workplace environments and is the third largest office furniture manufacturer in the United States. HON INDUSTRIES is also the nation's leading manufacturer and marketer of gas- and wood-burning fireplaces. The Company's strong brands, including HON, Allsteel, Gunlocke, Heatilator and Heat-N-Glo, have leading positions in their markets. HON INDUSTRIES is committed to maintaining its long-standing corporate values of integrity, financial soundness and a culture of service and responsiveness. By doing so, the Company was recognized for the third consecutive year as one of the 400 Best Big Companies in America by Forbes magazine in 2003, and as America's Most Admired Company in the furniture industry by Fortune magazine in 2003. HON INDUSTRIES' common stock is traded on the New York Stock Exchange under the symbol HNI. More information can be found on the Company's website at www.honi.com.
Statements in this news release that are not strictly historical, including statements as to plans, objectives, and future financial performance, are "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, which may cause the Company's actual results in the future to differ materially from expected results, particularly those with respect to expected earnings for the remainder of the fiscal year. These risks include, among others: the Company's ability (a) to realize financial benefits from its cost containment and business simplification initiatives, (b) to realize financial benefits from investments in new products, and (c) to mitigate the effects of uncertain steel prices and supplies; lower than expected demand for the Company's products due to uncertain political and economic conditions; competitive pricing pressure from foreign and domestic competitors; and other factors described in the Company's annual and quarterly reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q.
CONTACT: HON INDUSTRIES Inc., Muscatine Jerald K. Dittmer, 563-264-7400 or Melinda C. Ellsworth, 563-264-7406 SOURCE: HON INDUSTRIES Inc.