HARRISBURG, Pa., Nov. 18, 2003 (PRIMEZONE) -- The Board of Directors of Harsco Corporation (NYSE:HSC) today declared a regular quarterly cash dividend of 27.50 cents per share, or $1.10 per share on an annualized basis, an increase of 4.8 percent in the dividend rate. The increased dividend is payable February 17, 2004 to stockholders of record as of January 15, 2004.
Commenting on the Board's action, Harsco Chairman, President and Chief Executive Officer, Derek C. Hathaway, said, "The decision by the Board to increase the cash dividend reflects its continued confidence in the future cash flows of Harsco. It is consistent with management's balanced strategies for growth and enhancement of shareholder wealth. This action will not limit our current and future debt reduction efforts, nor limit our ability to consider future strategic acquisitions or other organic growth investments. We continue to believe that it is important to present our shareholders with an immediate return on their investment, in the form of a steady cash dividend."
The action marks the 215th consecutive cash dividend paid to Harsco shareholders at the same or increased rate. Harsco has paid dividends each year since 1939, and has now increased its dividend ten consecutive years, and eleven of the last twelve years.
Harsco Corporation is a $2 billion industrial services and products company employing approximately 17,500 people in more than 40 countries of operation. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. Additional information about Harsco can be found at www.harsco.com.
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