A. O. Smith Increases Quarterly Dividend to $.195 Per Share

Mon Jul 13, 2009 5:54pm EDT
 
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MILWAUKEE, July 13 /PRNewswire-FirstCall/ -- A. O. Smith Corporation (NYSE:
AOS) today announced its Board of Directors has approved a 2.6 percent
increase in the company's quarterly cash dividend to a rate of $.195 per
share.  

The increased dividend will apply to both Common Stock and Class A Common
Stock and is payable on Aug. 17 to shareholders of record July 31.

A. O. Smith Corporation has paid cash dividends on its stock every year since
1940.  This is the seventh time in the last eight years that the company has
increased its quarterly cash dividend.

"This increase reflects the company's strong balance sheet," Paul W. Jones,
chairman and chief executive officer, pointed out.  "In addition, the company
generated more than $106 million in operating cash during 2008 and expects to
generate between $140 and $150 million in operating cash this year."

"We remain confident in our company's ability to manage through this global
recession and expect to be well positioned when we emerge from these difficult
economic times," Jones added.

A. O. Smith Corporation, with 2008 sales of $2.3 billion, is a global leader
applying innovative technology and energy-efficient solutions to products
marketed worldwide. The company is one of the world's leading manufacturers of
residential and commercial water heating equipment, offering a comprehensive
product line featuring the best-known brands in North America and China. A. O.
Smith is also one of the largest manufacturers of electric motors for
residential and commercial applications in North America.



SOURCE  A. O. Smith Corporation

Media Inquiries, Mark A. Petrarca, +1-414-359-4100, or Analyst/Investor, Craig
Watson, +1-414-359-4009, both of A.O. Smith Corporation

 

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