Flowserve Announces Quarterly Cash Dividend of $ 0.20 Per Share | Business


DALLAS – (BUSINESS WIRE) – May 20, 2021 –

Flowserve Corporation, (NYSE: FLS), a leading provider of flow control products and services for global infrastructure markets, announced that its board of directors has authorized a quarterly cash dividend of $ 0.20 per share on the outstanding common shares of the company.

The dividend is payable on July 9, 2021 to shareholders of record at the close of business on June 25, 2021.

Although Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this rate of $ 0.20 per share or otherwise, will be individually considered and declared by the Board at its discretion.

Safe Harbor Declaration: This press release contains 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 in accordance with the safe harbor provisions of the Private Act. Securities Litigation Reform Act of 1995, as amended. Words or expressions such as “may”, “should”, “expects”, “could”, “intends”, “plans”, “anticipates”, “believes”, “believes”, “foresees” “,” Predicted “or other similar expressions are intended to identify forward-looking statements, which include, without limitation, profit forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments regarding our industry, business, operations and finances. performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions and not guarantees. These forward-looking statements are subject to many risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is expected in these forward-looking statements, and include, without limitation, the following: the impact of the global COVID-19 epidemic on our activities and operations; a portion of our bookings may not lead to closed sales, and our ability to convert bookings into revenue at acceptable profit margins; changes in global economic conditions and the potential for unforeseen cancellations or delays of customer orders in our reported order backlog; our dependence on the ability of our customers to make necessary capital and maintenance expenditures; if we are unable to successfully execute and realize the financial benefits expected from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and customer order intake for large, complex custom-engineered products; the heavy dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the unfavorable impact of raw material price volatility on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes in tariffs or trade agreements that could affect customer markets, particularly northern markets African, Russian and Middle Eastern and global oil and gas producers and failure to comply with US export / re-export controls, foreign laws on corrupt practices, economic sanctions, and import laws and regulations ; increased aging and slower debt collection, particularly in Latin America and other emerging markets; our exposure to fluctuations in currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our provision of products and services to nuclear power plant facilities and other critical processes; the potential negative consequences resulting from litigation to which we are a party, such as litigation involving significant claims containing asbestos; expectations regarding acquisitions and the integration of acquired businesses; our relative geographic profitability and its impact on our use of deferred tax assets, including foreign tax credits; the potential negative impact of an impairment of the carrying amount of goodwill or other intangible assets; our dependence on third party suppliers whose failure to meet deadlines could adversely affect our business operations; the highly competitive nature of the markets in which we operate; the costs and responsibilities of environmental compliance; potential work stoppages and other work issues; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as abroad; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect anomalies due to its inherent limitations, including the possibility of human error, bypassing or bypassing controls, or fraud; the recognition in the future of an increase in provisions for the impairment of deferred tax assets or the impact of changes in tax legislation on these deferred tax assets could affect our operating results; our information technology infrastructure could be subject to downtime, data corruption, cyber attacks or breaches of network security, which could disrupt our business operations and result in the loss of information critical and confidential; ineffective internal controls could affect 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 press release are based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statements.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210520005987/en/

CONTACT: Flowserve Contacts

Investor contacts:

Jay Roueche, Vice President, Investor Relations and Treasurer (972) 443-6560

Mike Mullin, Director, Investor Relations, (972) 443-6636 Media Contact:

Lars Rosene, Vice-President, Corporate Communications and Public Affairs, (972) 443-6644

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OIL / GAS MANUFACTURING ENERGY ENGINEERING CHEMICALS / PLASTICS

SOURCE: Flowserve Corporation

Copyright Business Wire 2021.

PUB: 05/20/2021 4:15 p.m. / DISC: 05/20/2021 4:16 p.m.

http://www.businesswire.com/news/home/20210520005987/en

Copyright Business Wire 2021.



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