Bandag declares quarterly dividend

May 14, 2003

Bandag Inc.'s board of directors has declared a regular quarterly dividend of 32 cents per share on its Class A and B common stock.

The dividend is payable July 18 to shareholders of record at the close of business on June 18.

At the close of the New York Stock Exchange on May 13, Bandag's Class A and B common stock was valued at $35.40 and $37.78 a share, respectively.