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NEW YORK, Aug. 7 /PRNewswire-FirstCall/ -- The Board of Directors of Dover Corporation (NYSE: DOV) increased its quarterly cash dividend today to $0.25 (twenty-five cents) per share, from the previous $0.20 (twenty cents) per share, an increase of 25%. This is the 53rd consecutive year in which Dover has paid an increased cash dividend, giving it the fourth longest record of consecutive annual dividend increases of all the listed companies, as reported by Mergent's Dividend Achievers.

Ronald L. Hoffman, Dover's Chief Executive Officer, said, "During the past year, we have spent considerable time developing and implementing programs to capture synergy, further improve operating performance and drive greater business integration. The early successes from these efforts give us confidence that we will see long-term trends of improvement in cash flow generation and operating earnings. This, in turn, will allow for higher levels of cash dividends while supporting further EPS growth through focused strategic acquisitions, balanced, as appropriate, with further share repurchases.

Accordingly, today the Board has declared a quarterly cash dividend of 25 cents - which is a 25% increase over the current rate. At our current share price, this is a yield of 2% and a projected net continuing earnings payout of 26-27%. In addition, we continue to have a standing Board authorization to repurchase up to 10 million shares on a discretionary basis. This standing authorization is separate from our nearly completed share repurchase program which has resulted in a 10% reduction of our share count over the last year."

This increased dividend will be paid on September 15, 2008 to shareholders of record as of August 31, 2008.

Dover Corporation, with over $7 billion in annual revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.

SOURCE: Dover Corporation

CONTACT: Paul Goldberg, Treasurer & Director of IR, Dover Corporation,
+1-212-922-1640
Web site: http://www.dovercorporation.com