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NACCO Industries Announces Increased Quarterly Dividend


MAYFIELD HEIGHTS, Ohio, Aug. 13 /PRNewswire-FirstCall/ -- NACCO Industries, Inc. (NYSE: NC) today announced that the Board of Directors increased its regular quarterly cash dividend to 38 cents per share, an increase of 49% over its current quarterly dividend of 25-1/2 cents per share. The dividend is payable on both the Class A and Class B Common Stock, and will be paid September 15, 2003 to stockholders of record at the close of business on September 2, 2003. The new dividend is equal to $1.52 per share on an annualized basis. This increased dividend reflects the Board's confidence in the Company's financial strength and business prospects as well as the recent reduction in the federal tax rate on dividends which provides a more tax- efficient means of distributing returns to stockholders.

SOURCE  NACCO Industries, Inc.
    -0-                             08/13/2003
    /CONTACT:  Investor Relations of NACCO Industries, Inc., +1-440-449-9600/
    /Web site:

CO:  NACCO Industries, Inc.
ST:  Ohio

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0012 08/13/2003 11:12 EDT 
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The summary data (including definitions) presented is provided by Q4's partner Virtua a supplier of financial information to the financial community. NACCO Industries, Inc. neither represents nor warrants that the data accumulated and published by Virtua is accurate.