Pentair Announces Dividend Increase and Quarterly Cash Dividend
06 December 2016 - 10:45PM
MANCHESTER, United Kingdom - December 6, 2016 -
Pentair plc (NYSE: PNR) ("Pentair") announced today that its Board
of Directors has approved a three percent increase in the company's
regular annual cash dividend rate for 2017 (from $1.34 per share
paid in 2016 to $1.38 per share), and that it will pay a regular
quarterly cash dividend of $0.345 per share on February 10, 2017 to
shareholders of record at the close of business on January 27,
2017. 2017 will mark the 41st 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 company's
ability to complete the sale of the Valves & Controls business
on anticipated terms and timetable; overall global economic and
business conditions, including worldwide demand for oil and gas;
the ability to achieve the benefits of our restructuring plans; the
ability to successfully identify, finance, complete and integrate
acquisitions; 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
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 ("SEC"), including in our 2015 Annual Report on
Form 10-K. All forward-looking statements speak only as of the date
of this report. We assume no obligation, and disclaim any
obligation, to update the information contained in this report.
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 2015 revenues of $6.4 billion, Pentair
employs approximately 28,000 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 Corporate Solutions on behalf
of Nasdaq 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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