RYE, N.Y., Sept. 15 /PRNewswire-FirstCall/ -- Jarden Corporation (NYSE: JAH) today announced that its board of directors has declared an initial quarterly cash dividend of $0.075 per share of the Company's common stock. The commencement of a dividend reflects strong cash generation by Jarden and the Company's focus on building value for stockholders.

Martin E. Franklin, Chairman and Chief Executive Officer of Jarden Corporation, commented, "The board's decision to initiate a quarterly dividend for the first time in Jarden's history is a sign of its confidence in our long-term growth strategy and strong commitment to continuing to create shareholder value. Our strategy of investing in our brands, our products and our people has succeeded even during the recessionary environment. We have successfully executed against our goal to reduce our leverage ratio and generate earnings, and we anticipate record cash flow from operations in 2009. This is allowing us to reward our shareholders with cash dividends while maintaining the flexibility to make opportunistic acquisitions."

Mr. Franklin continued, "We are hopeful that over time we will be able to increase the dividend amount to shareholders, while maintaining the fiscal conservatism that has served us well in the recent volatile macro environment."

The declared $0.075 per share dividend will be paid on October 30, 2009 to stockholders of record as of the close of business on October 1, 2009.

The Company expects quarterly dividends going forward to be paid during the last week of October, January, April and July, and anticipates a total annual dividend of $0.30 per share of common stock. However, the actual declaration of any future cash dividends, and the establishment of record and payment dates, will be subject to final determination by the board of directors each quarter after its review of the Company's financial performance.

About Jarden Corporation

Jarden Corporation is a leading provider of niche consumer products. Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia(R), Berkley(R), Campingaz(R) and Coleman(R), Fenwick(R), Gulp!(R), JT(R), K2(R), Marker(R), Marmot(R), Mitchell(R), Penn(R), Rawlings(R), Shakespeare(R), Stearns(R), Stren(R), Trilene(R), Volkl(R), and Zoot(R); Consumer Solutions: Bionaire(R), Crock-Pot(R), FoodSaver(R), Health o meter(R), Holmes(R), Mr. Coffee(R), Oster(R), Patton(R), Rival(R), Seal-a-Meal(R), Sunbeam(R), VillaWare(R) and White Mountain(R); and Branded Consumables: Ball(R), Bee(R), Bicycle(R), Crawford(R), Diamond(R), Dicon(R), First Alert(R), Forster(R), Hoyle(R), Kerr(R), Lehigh(R), Leslie-Locke(R), Loew Cornell(R) and Pine Mountain(R). Headquartered in Rye, N.Y., Jarden has over 20,000 employees worldwide. For more information, please visit www.jarden.com.

Note: This news release contains "forward-looking statements" within the meaning of the federal securities laws and is intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's intention to pay or increase future cash dividends, adjusted earnings per share, repurchase of shares of common stock from time to time under the Company's stock repurchase program, the outlook for the Company's markets and the demand for its products, estimated sales, segment earnings, earnings per share, cash flows from operations, future revenues and margin requirement and expansion, organic growth, the success of new product introductions, growth in costs and expenses and the impact of acquisitions, divestitures, restructurings, and other unusual items, including the Company's ability to integrate and obtain the anticipated results and synergies from its acquisitions. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause results to vary is included in the Company's periodic and other reports filed with the Securities and Exchange Commission.

SOURCE Jarden Corporation