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Fastenal issues report on growth: Business brief

Fastenal Co., a wholesale distributor of industrial and construction supplies, announced sales and profits up for the quarter and six-month period that ended June 30.

Net sales increased $107.2 million or 10.6 million from the second quarter of 2016 to the second quarter of 2017, the company said in a news release. Gross profit, as a percentage of net sales, improved 30 basis points to 49.8 percent from 49.5 percent.

Fastenal, which is based in Winona, Minn., and has a Red Wing location, reported its board of directors declared a dividend of 32 cents per share to be paid in cash Aug. 23 to shareholders of record July 26.

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