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lowserve
, a leading provider
of flow control products and services for the global infrastructure
markets, today announced that it has established June 21, 2013, as the
distribution date for the previously announced 3-for-1 split of the
company's common stock to be effected in the form of a stock dividend.
As previously announced, the record date for the stock split will be
June 7, 2013. On the June 21, 2013, distribution date, each shareholder
of record on June 7, 2013, will receive two additional shares of common
stock for each share held.
Additionally, at the request of the NYSE, the company has changed the
previously announced record date for its quarterly cash dividend on its
common stock, which was declared on May 23, 2013. The revised record
date for the cash dividend will be July 2, 2013, and the payable date
remains July 12, 2013. As a result of the stock split, the previously
declared rate of $0.42 per share will be adjusted to $0.14 per share.
Investor Contact: Mike Mullin, director, investor relations, (972)
443-6636
Media Contact: Steve Boone, director, global communications and public
affairs, (972) 443-6644
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 website 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 the global financial markets and
the availability of capital 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; 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; our ability to execute and
realize the expected financial benefits from our strategic realignment
initiatives; economic, political and other risks associated with our
international operations, including military actions or trade embargoes
that could affect customer markets, particularly 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; our exposure to fluctuations
in foreign currency exchange rates, including in hyperinflationary
countries such as Venezuela; our furnishing of products and services to
nuclear power plant facilities; potential adverse consequences resulting
from litigation to which we are a party, such as litigation involving
asbestos-containing material claims; a foreign government investigation
regarding our participation in the United Nations Oil-for-Food Program;
expectations regarding acquisitions and the integration of acquired
businesses; our foreign subsidiaries autonomously conducting limited
business operations and sales in certain countries identified by the
U.S. State Department as state sponsors of terrorism; 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; our inability to protect our intellectual
property in the U.S., as well as in foreign countries; obligations under
our defined benefit pension plans; 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.
# # #
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Flowserve Corporation via Thomson Reuters ONE
HUG#1706846
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Posted In: NewsStock Split
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