MELVILLE, N.Y. and DAVIDSON, N.C., Dec. 17, 2019 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), "MSC" or the "Company," a premier distributor of Metalworking and Maintenance, Repair and Operations ("MRO") products and services to industrial customers throughout North America, today announced that its Board of Directors has declared a special cash dividend of $5.00 per share. The special cash dividend is payable on February 5, 2020 to shareholders of record at the close of business on January 22, 2020. The ex-dividend date is January 21, 2020. The Company will initially fund the approximately $277 million required for the special cash dividend from cash on hand and its revolving credit facility
(NTS: Ex is Jan 21, 2020 BUT 'record' date is Jan 22, ohhhh TRICKY! And to be 'of record' takes 4 days (3+1 rule, or 1+3 rule, whatever) so technically MSM needs to be purchased BY JANUARY 16th to be on record as a shareholder.
The Company today also announced that its Board of Directors has declared the regular quarterly cash dividend of $0.75 per share. The cash dividend is payable on February 5, 2020 to shareholders of record at the close of business on January 22, 2020. The ex-dividend date is January 21, 2020.
The Company's reporting date for fiscal first quarter 2020 is scheduled for January 8, 2020.
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