Flowserve Enters Into Accelerated Share Repurchase Program

Flowserve Corporation

today announced that it has entered into an accelerated share repurchase (ASR) agreement with J.P. Morgan to repurchase an aggregate of $300 million of the company's common stock.  The ASR is part of both the company's recently authorized $1 billion share repurchase program and its new capital structure strategy designed to prudently increase leverage while accelerating return of capital to shareholders.