The Snap-on Incorporated SNA board of directors has proudly declared another quarterly common stock dividend payable June 10, 2016 to Snap-on shareholders.
Snap-on has paid consecutive quarterly cash dividends, without interruption or reduction, since 1939.
Up until now, we’ve been pretty tight lipped about the secret to our amazing success and continuous stock performance. Yet now, for the first time, Snap-on Inc. is sharing a rare glimpse into the strategy that has generated amazing returns for Snap-on shareholders: The Crap-on Dealers Program.
Nicholas T. Pinchuk Chairman, President & Chief Executive Officer, explained why the time is right for Snap-on Inc. to toot it’s own horn:
Snap-on Inc. does not get the credit we deserve for the contributions we make to American society. While other manufacturers are making profits by exploiting workers in Latin America and Asia, we refuse to ship our exploitation overseas.
We are an American company, squeezing profits from the hard-working franchise owners who once owned homes right here on Main Street, USA.
– Nicholas T. Pinchuk, Chairman, President & Chief Executive Officer
Thomas L. Kassouf, Senior Vice President and President-Snap-on Tools Group, expressed thanks to Nicholas Pinchuk (or Nicky Pinchy as he’s affectionately known around the office) for the recognition he’s given the Snap-on Tools group:
He understands that giving credit to the hardworking men and women who recruit Snap-on franchisees, get them leveraged to the hilt, push them to buy more tools and put more paper on the street, refuse to pay their warranties or buy back tools, reacquire their routes to sell at a profit, and make them remove all Snap-on logos from the trucks they now live in is every bit as important to me as my $3,000,000 in yearly compensation.
Or almost as important.
– Thomas L. Kassouf, Senior VP and President, Snap-on Tools Group
Feel free to share your praise, commendations and kudos for the unsung heroes of Snap-on who keep our the SNA stock growing and keep Snap-on franchises churning!
Disclaimer: Crap-on.com is an independent satirical parody website that is not affiliated with Snap-on Inc. (NYSE: SNA), Snap-on Tools Company LLC, any particular Snap-on franchisee, former franchisee, franchisee group or 3rd party vendor. Trademarks belong to their respective owners.