DALLAS--(BUSINESS WIRE)--May 23, 2019--
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 5, 2019, to shareholders of record as of
the close of business on June 21, 2019.
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.
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 global economic conditions 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; if we are not
able to successfully execute and realize the expected financial benefits
from our strategic transformation and realignment initiatives, our
business could be adversely affected; 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, trade embargoes or changes to tariffs or
trade agreements that could affect customer markets, particularly North
African, Russian and 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 and Argentina; 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; 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; access to public and private sources of debt financing;
our inability to protect our intellectual property in the U.S., as well
as in foreign countries; obligations under our defined benefit pension
plans; our internal control over financial reporting may not prevent or
detect misstatements because of its inherent limitations, including the
possibility of human error, the circumvention or overriding of controls,
or fraud; the recording of increased deferred tax asset valuation
allowances in the future or the impact of tax law changes on such
deferred tax assets could affect our operating results; our information
technology infrastructure could be subject to service interruptions,
data corruption, cyber-based attacks or network security breaches, which
could disrupt our business operations and result in the loss of critical
and confidential information; ineffective internal controls could impact
the accuracy and timely reporting of our business and financial results;
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: https://www.businesswire.com/news/home/20190523005714/en/
Source: Flowserve Corporation
Flowserve Contacts
Investor Contacts:
Jay Roueche,
Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike
Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate &
Marketing Communications, (972) 443-6644