DALLAS--(BUSINESS WIRE)--May 19, 2016--
Flowserve Corporation, (NYSE: FLS), a leading provider of flow control
products and services for the global infrastructure markets, announced
that its Board of Directors has authorized a quarterly cash dividend of
$0.19 per share on the company's outstanding shares of common stock.
The dividend is payable on July 8, 2016, to shareholders of record as of
the close of business on June 24, 2016.
While Flowserve currently intends to pay regular quarterly cash
dividends for the foreseeable future, any future dividends, at this
$0.19 per share rate or otherwise, will be reviewed individually and
declared by the Board at its discretion, dependent on the Board's
assessment of the company's financial condition and business outlook at
the applicable time.
About Flowserve: Flowserve Corp. is one of the world’s
leading providers of fluid motion and control products and services.
Operating in more than 55 countries, the company produces engineered and
industrial pumps, seals and valves as well as a range of related flow
management services. More information about Flowserve can be obtained by
visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Words or phrases such as,
“may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,”
“estimates,” “believes,” “forecasts,” “predicts” or other similar
expressions are intended to identify forward-looking statements, which
include, without limitation, earnings forecasts, statements relating to
our business strategy and statements of expectations, beliefs, future
plans and strategies and anticipated developments concerning our
industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based
on our current expectations, projections, estimates and assumptions.
These statements are only predictions, not guarantees. Such
forward-looking statements are subject to numerous risks and
uncertainties that are difficult to predict. These risks and
uncertainties may cause actual results to differ materially from what is
forecast in such forward-looking statements, and include, without
limitation, the following: a portion of our bookings may not lead to
completed sales, and our ability to convert bookings into revenues at
acceptable profit margins; changes in the global financial markets and
the availability of capital and the potential for unexpected
cancellations or delays of customer orders in our reported backlog; our
dependence on our customers’ ability to make required capital investment
and maintenance expenditures; risks associated with cost overruns on
fixed-fee projects and in taking customer orders for large complex
custom engineered products; the substantial dependence of our sales on
the success of the oil and gas, chemical, power generation and water
management industries; the adverse impact of volatile raw materials
prices on our products and operating margins; economic, political and
other risks associated with our international operations, including
military actions or trade embargoes that could affect customer markets,
particularly Middle Eastern markets and global oil and gas producers,
and non-compliance with U.S. export/re-export control, foreign corrupt
practice laws, economic sanctions and import laws and regulations;
increased aging and slower collection of receivables, particularly
in Latin America and other emerging markets; our exposure to
fluctuations in foreign currency exchange rates, including in
hyperinflationary countries such as Venezuela; our furnishing of
products and services to nuclear power plant facilities and other
critical processes; potential adverse consequences resulting from
litigation to which we are a party, such as litigation involving
asbestos-containing material claims; a foreign government investigation
regarding our participation in the United Nations Oil-for-Food Program;
expectations regarding acquisitions and the integration of acquired
businesses; our relative geographical profitability and its impact on
our utilization of deferred tax assets, including foreign tax credits;
the potential adverse impact of an impairment in the carrying value of
goodwill or other intangible assets; our dependence upon third-party
suppliers whose failure to perform timely could adversely affect our
business operations; the highly competitive nature of the markets in
which we operate; environmental compliance costs and liabilities;
potential work stoppages and other labor matters; our inability to
protect our intellectual property in the U.S., as well as in foreign
countries; obligations under our defined benefit pension plans; and
other factors described from time to time in our filings with
the Securities and Exchange Commission.
All forward-looking statements included in this news release are based
on information available to us on the date hereof, and we assume no
obligation to update any forward-looking statement.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160519006374/en/
Source: Flowserve Corporation
Flowserve Corporation
Investor Contacts:
Jay Roueche,
972-443-6560
Vice President, Investor Relations & Treasurer
or
Mike
Mullin, 972-443-6636
Director, Investor Relations
or
Media
Contact:
Lars Rosene, 972-443-6644
Vice President, Global
Communications and Public Affairs