Pentair Announces Approval Of Dividend Recommendation
SCHAFFHAUSEN, Switzerland, April 29, 2013 /PRNewswire/ -- Pentair Ltd. (NYSE: PNR) today announced that Pentair shareholders approved a Board of Directors recommended proposal to distribute an ordinary cash dividend of $1.00 per share. Payment of the dividend will be made in four equal quarterly installments of $0.25 in each of the third and fourth quarters of 2013 and the first and second quarters of 2014 at such times and with such record dates as shall be determined by Pentair's Board of Directors. The dividends will be paid out of Pentair's capital contribution reserve and represents an increase of two cents per share per quarter over the previous dividend. This dividend increase marks the 37th consecutive year in which Pentair has increased its dividend.
Pentair paid dividends of $0.88 per share in 2012, and had announced on September 28, 2012 that it would pay dividends previously authorized by Pentair's former sole shareholder on September 14, 2012 of $0.23 per share out of its capital contribution reserve for each of the first and second quarters of 2013.
About Pentair Ltd.
Pentair (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 pro forma revenues of approximately $8 billion, Pentair employs more than 30,000 people worldwide.
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SOURCE Pentair Ltd.