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Parker Hannifin Corp Narrows FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates; Increases Dividend

Thursday, 25 Apr 2013 07:31am EDT 

Parker Hannifin Corp announced that for fiscal 2013, it has maintained the midpoint and narrowed the range of guidance for earnings from continuing operations to $6.25 to $6.65 per diluted share (EPS). Fiscal 2013 guidance includes an expected year-over-year increase in domestic qualified pension expense of approximately $0.35 per diluted share due to accounting regulations which require the use of a lower discount rate based on current market conditions. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $6.42 for fiscal 2013. The Company also announced that Board of Directors increased the Company's regular quarterly cash dividend to 45 cents per share of common stock and declared a dividend payable June 7, 2013 to shareholders of record as of May 10, 2013. This represents a 5% increase over the previous quarterly dividend of 43 cents per common share and is the second consecutive increase this year. 

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