NACCO Industries Announces Increased Quarterly Dividend

MAYFIELD HEIGHTS, Ohio, Aug. 11 /PRNewswire-FirstCall/ -- NACCO Industries, Inc. (NYSE: NC) today announced that the Board of Directors increased its regular quarterly cash dividend to 45-1/4 cents per share, an increase of 16% over its current quarterly dividend of 39 cents per share. The dividend is payable on both the Class A and Class B Common Stock, and will be paid September 15, 2004 to stockholders of record at the close of business on September 1, 2004. The new dividend is equal to $1.81 per share on an annualized basis. This increased dividend reflects the Board's confidence in the Company's financial strength and business prospects as well as the current level of the federal tax rate on dividends which provides a tax-efficient means of distributing returns to stockholders.

SOURCE  NACCO Industries, Inc.
    -0-                             08/11/2004
    /CONTACT:  Christina Kmetko, Manager - Finance of NACCO Industries, Inc.,
+1-440-449-9669 /
    /Web site:  http://www.nacco.com /

CO:  NACCO Industries, Inc.
ST:  Ohio

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6456 08/11/2004 13:23 EDT http://www.prnewswire.com