Columbus, Ohio (October 11, 2000) –Worthington Industries, Inc. (NYSE:WOR) has been designated a Dividend Achiever by Mergent FIS, formerly the Financial Information Services division of Moody's Investors Service. Of the more than 10,000 companies in Mergent's U.S. equity database, Worthington was among only 320 companies identified as having an outstanding record of increasing cash dividends annually for its shareholders for at least the last ten years. Worthington Chairman and CEO, John P. McConnell noted that the annual dividend increases paid to shareholders actually date back 32 years, every year since going public in 1968. McConnell said “Worthington is a firm believer in the discipline of returning capital to shareholders through cash dividends and is proud of this recognition for its efforts.”
Worthington Industries is a leading diversified metal processing company with annual sales of approximately $2 billion. The Columbus, Ohio, based Company is North America's premier value-added steel processor and a leader in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. The company employs 8,000 people and operates 55 facilities in 11 countries.
Founded in 1955, the Company operates under a long-standing corporate philosophy rooted in the golden rule, with earning money for its shareholders as the first corporate goal. This philosophy, an unwavering commitment to the customer, and one of the strongest employee partnerships in American industry, serve as the Company's foundation.
Safe Harbor Statement
The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (“the Act”). Statements by the Company relating to future revenues and growth, stock appreciation, plant startups, capabilities and other statements which are not historical information constitute “forward looking statements” within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include, but are not limited to, the following: general economic conditions; conditions in the Company's major markets; competitive factors and pricing pressures; product demand and changes in product mix; changes in pricing or availability of raw material, particularly steel; delays in construction or equipment supply; and other risks described from time to time in the Company's filings with the Securities and Exchange Commission.