MANCHESTER, United Kingdom - December 8, 2015 - Pentair plc (NYSE: PNR) ("Pentair") announced today that its Board of Directors has approved a five percent increase in the company's regular annual cash dividend rate for 2016 (from $1.28 per share paid in 2015 to $1.34 per share) and that it will pay a regular quarterly cash dividend of $.33 per share on February 12, 2016 to shareholders of record at the close of business on January 29, 2016. The company intends to pay dividends in 2016 in four quarterly installments of $.33 in each of the first and second quarters and $.34 in each of the third and fourth quarters. 2016 will mark the 40th consecutive year that Pentair has increased its dividend.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "should," "would," "positioned," "strategy," "future" or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the ability to achieve the benefits of planned cost take-out actions; the ability to successfully identify, complete and integrate acquisitions, including the ability to successfully integrate and achieve the expected benefits of the acquisition of ERICO Global Company; overall global economic and business conditions; competition and pricing pressures in the markets we serve; the strength of housing and related markets; volatility in currency exchange rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; increased risks associated with operating foreign businesses; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the ability to successfully complete the disposition of the remaining portion of the Water Transport business on anticipated terms and timetable; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including in our 2014 Annual Report on Form 10-K. All forward-looking statements speak only as of the date of this press release. We assume no obligation, and disclaim any obligation, to update the information contained in this press release.
ABOUT PENTAIR PLC
Pentair plc (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 2014 revenues of $7.0 billion, Pentair employs approximately 30,000 people worldwide.
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Pentair contacts:
Jim Lucas
Vice President, Investor Relations and Strategic Planning
Tel: 763-656-5575
E-mail: jim.lucas@pentair.com
Rebecca Osborn
Senior Manager, External Communications
Tel: 763-656-5580
Email: rebecca.osborn@pentair.com
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