Newsroom

For Immediate Release

Noland Declares Cash Dividend
NEWPORT NEWS, Va., Oct. 1, 2003 - - - Noland Company's board of directors has declared a regular quarterly cash dividend of 8 cents, payable on Oct. 30 to stockholders of record at the close of business Oct. 15.

This is the 70th consecutive year in which Noland Company, a wholesale distributor of mechanical equipment to the building trades and industry, has paid regular cash dividends.

Noland operates 98 branches in 13 states, and distributes products in the plumbing, HVAC, water systems, electrical and industrial fields. The company's stock is traded on NASDAQ's SmallCap Market. Its trading symbol is NOLD.

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19 - 10/01/03 - A/B/C/E/W