Pentair Announces Dividend Increase and Quarterly Cash Dividend
December 08 2015 - 5:45AM
MANCHESTER, United Kingdom - December 8, 2015 -
Pentair plc (NYSE: PNR) ("Pentair") announced today that its Board
of Directors has approved a five percent increase in the company's
regular annual cash dividend rate for 2016 (from $1.28 per share
paid in 2015 to $1.34 per share) and that it will pay a regular
quarterly cash dividend of $.33 per share on February 12, 2016 to
shareholders of record at the close of business on January 29,
2016. The company intends to pay dividends in 2016 in four
quarterly installments of $.33 in each of the first and second
quarters and $.34 in each of the third and fourth quarters. 2016
will mark the 40th consecutive year that Pentair has increased its
dividend.
CAUTION CONCERNING
FORWARD-LOOKING STATEMENTS
This press release contains statements that we
believe to be "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact are
forward-looking statements. Without limitation, any statements
preceded or followed by or that include the words "targets,"
"plans," "believes," "expects," "intends," "will," "likely," "may,"
"anticipates," "estimates," "projects," "should," "would,"
"positioned," "strategy," "future" or words, phrases or terms of
similar substance or the negative thereof, are forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties,
assumptions and other factors, some of which are beyond our
control, which could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
These factors include the ability to achieve the benefits of
planned cost take-out actions; the ability to successfully
identify, complete and integrate acquisitions, including the
ability to successfully integrate and achieve the expected benefits
of the acquisition of ERICO Global Company; overall global economic
and business conditions; competition and pricing pressures in the
markets we serve; the strength of housing and related markets;
volatility in currency exchange rates and commodity prices;
inability to generate savings from excellence in operations
initiatives consisting of lean enterprise, supply management and
cash flow practices; increased risks associated with operating
foreign businesses; the ability to deliver backlog and win future
project work; failure of markets to accept new product
introductions and enhancements; the ability to successfully
complete the disposition of the remaining portion of the Water
Transport business on anticipated terms and timetable; the impact
of changes in laws and regulations, including those that limit U.S.
tax benefits; the outcome of litigation and governmental
proceedings; and the ability to achieve our long-term strategic
operating goals. Additional information concerning these and other
factors is contained in our filings with the U.S. Securities and
Exchange Commission, including in our 2014 Annual Report on Form
10-K. All forward-looking statements speak only as of the date of
this press release. We assume no obligation, and disclaim any
obligation, to update the information contained in this press
release.
ABOUT PENTAIR PLC
Pentair plc (www.pentair.com) delivers industry-leading products,
services, and solutions for its customers' diverse needs in water
and other fluids, thermal management, and equipment
protection. With 2014 revenues of $7.0 billion, Pentair
employs approximately 30,000 people worldwide.
###
Pentair contacts:
Jim
Lucas
Vice President, Investor Relations and Strategic
Planning
Tel:
763-656-5575
E-mail: jim.lucas@pentair.com
Rebecca Osborn
Senior Manager, External Communications
Tel: 763-656-5580
Email: rebecca.osborn@pentair.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Pentair plc via Globenewswire
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