August 29, 2008

Carpenter Technology increases cash dividend by 20%

The Board of Directors of Carpenter Technology Corporation on April 22nd 2008 declared an increase in the quarterly dividend on its common shares to USD 0.18 per share from USD 0.15 per share or an increase of 20%.

Ms Anne Stevens chairman, president & CEO of Carpenter Technology said that "The dividend increase reflects our Board's confidence in the long term strength of Carpenter's business and financial position. The dividend is a key component of our cash deployment strategy to provide a consistent, competitive return that rewards long term investment oriented shareholders. The dividend increase, our share repurchase program and our recent capital investments are all intended to create long-term value for shareholders."

Carpenter last increased its quarterly dividend from USD 0.1125 to USD 0.15 on April 26th 2007. The Company has paid a dividend every year since 1906.

Carpenter Technology produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products.