MINNEAPOLIS, Dec. 15, 2010 /PRNewswire-FirstCall/ -- Pentair, Inc.'s (NYSE: PNR) board of directors approved an increase in the company's quarterly cash dividend of one cent per share, effective with the quarterly dividend payable in the first quarter of 2011. The new annual cash dividend is $0.80 cents per share as compared to the previous $0.76 per share, representing a 5 percent increase.
In addition, the company's board of directors authorized a common stock repurchase program up to $25 million that expires in December 2011.
ABOUT PENTAIR, INC.
Pentair (www.pentair.com) is a global diversified industrial company headquartered in Minneapolis, Minnesota. Its Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair's Technical Products Group is a leader in the global enclosures and thermal management markets, designing and manufacturing thermal management products and standard, modified, and custom enclosures that protect sensitive electronics and the people that use them. With 2009 revenues of $2.7 billion, Pentair employs approximately 13,500 people worldwide.
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SOURCE Pentair, Inc.