Woodward Increases Dividend by 72 Percent

<p align="justify">FORT COLLINS, Colo., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ:WWD) today announced that its Board of Directors declared a cash dividend of $0.28 per share for the quarter, payable on March 3, 2020 for stockholders of record as of February 18, 2020.  The $0.28 per share dividend, which was originally announced as part of the recently announced merger transaction with Hexcel Corporation, represents a 72% increase over the previous quarterly dividend of $0.1625 per share.</p>

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