HVAC equipment manufacturer Lennox International Inc, (LII) announced the appointment of Paul W. Schmidt as a director, effective Jan. 1, 2005. Mr. Schmidt is currently corporate controller of General Motors Corporation (GM).
"We're pleased to be able to draw on Paul's broad leadership experience in one of the world's premier manufacturing corporations," said John Norris, LII chairman. "His deep expertise in finance, plant management, product development, and international business issues will prove invaluable to LII operations around the world."
In other news, LII's board of directors voted to increase the quarterly cash dividend from $0.095 per share of common stock to $0.10 per share of common stock. The dividend is payable on Jan. 10, 2005 to stockholders of record as of Dec. 27, 2004.
"We believe dividends are an important component of total shareholder return," Mr. Norris said. "This dividend increase reflects our confidence in Lennox International's future earnings and cash flow."
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