Oct. 26, 2009 (PR Newswire) --

MANITOWOC, Wis., Oct. 26 /PRNewswire-FirstCall/ -- At its meeting today, The Board of Directors of The Manitowoc Company, Inc. (NYSE: MTW), declared a quarterly cash dividend of 2 cents per share of common stock, payable on December 11, 2009, to shareholders of record on December 1, 2009.

The Board of directors also unanimously adopted a resolution switching the company's quarterly common stock cash dividend to an annual common stock cash dividend. In October next year, and in its regular fall meeting each year thereafter, the Board of Directors will determine the amount and timing of the annual dividend for that year.

About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with over 100 manufacturing and service facilities in 27 countries. It is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of the world's leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration, food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications.

SOURCE The Manitowoc Company, Inc.