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WD-40 Company Announces New Board Member and Declares Regular Quarterly Dividend

03/22/16

SAN DIEGO, March 22, 2016 /PRNewswire/ -- WD-40 Company (NASDAQ:WDFC) announced today that Daniel T. Carter has been appointed to its board of directors.  This change was effective March 21, 2016.

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Additionally, the Company's board of directors declared on Tuesday, March 22, 2016 its regular quarterly dividend of $0.42 per share, payable April 29, 2016 to stockholders of record at the close of business on April 15, 2016.

Mr. Carter currently serves as executive vice president and chief financial officer for BevMo! Inc. Mr. Carter's financial expertise and in-depth knowledge of the retail industry provide the Board with a breadth of relevant skills and experience.

"We are pleased to have Dan join our board and look forward to benefiting from his extensive financial and retail expertise," said Garry O. Ridge, president and chief executive officer of WD-40 Company. "In addition to his professional experience, Dan has considerable non-profit company board experience and is an extremely active member of the community with philanthropic contributions that extend several decades making him an excellent fit for the values-driven culture at WD-40 Company." 

Mr. Carter has held many financial leadership roles including: executive vice president and chief financial officer of Semtek, Inc. from 2008 to 2009; executive vice president and chief financial officer of Charlotte Russe Holding, Inc. from 1998 to 2007; and chief financial officer of Advanced Marketing Services from 1997 to 1998.  From 1986 to 1997 he was employed by Price Club and its follow-on entities, serving as senior vice president for PriceCostco and chief financial officer for Price Enterprises.  Mr. Carter began his career as an auditor with Ernst & Young and received his bachelor of business administration in accounting from the University of Oklahoma.

Mr. Carter has been appointed to serve as a member of the Audit Committee and the Governance Committee.  With this addition, WD-40 Company's board will have 10 directors.

About WD-40 Company

WD-40 Company is a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. The Company markets its maintenance products and homecare and cleaning products under the following well-known brands: WD-40®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®.  

Headquartered in San Diego, WD-40 Company recorded net sales of $378 million in fiscal year 2015 and its products are currently available in more than 176 countries and territories worldwide. WD-40 Company is traded on the NASDAQ Global Select market under the ticker symbol "WDFC." For additional information about WD-40 Company please visit http://www.wd40company.com.

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SOURCE WD-40 Company

Wendy Kelley, investorrelations@wd40.com, 619-275-9304

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