Flowserve Corporation, (NYSE: FLS), a main provider of flow management goods and solutions for the global infrastructure markets, announced that its Board of Administrators has approved a quarterly funds dividend of $.20 for every share on the company’s excellent shares of popular stock.
The dividend is payable on January 8, 2021, to shareholders of file as of the shut of enterprise on December 24, 2020.
Whilst Flowserve currently intends to spend typical quarterly funds dividends for the foreseeable long term, any long term dividends, at this $.20 for each share level or otherwise, will be reviewed separately and declared by the Board at its discretion.
Secure Harbor Statement:
This information release consists of ahead-seeking statements inside the this means of Area 27A of the Securities Act of 1933 and Area 21E of the Securities Exchange Act of 1934, which are created pursuant to the safe and sound harbor provisions of the Personal Securities Litigation Reform Act of 1995, as amended. Words and phrases or phrases such as, “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other identical expressions are meant to detect forward-seeking statements, which incorporate, without the need of limitation, earnings forecasts, statements relating to our business enterprise strategy and statements of anticipations, beliefs, long run ideas and strategies and expected developments regarding our industry, organization, functions and monetary efficiency and affliction.
The forward-searching statements bundled in this information launch are centered on our existing expectations, projections, estimates and assumptions. These statements are only predictions, not assures. These kinds of ahead-wanting statements are issue to various threats and uncertainties that are challenging to forecast. These challenges and uncertainties may well bring about real benefits to differ materially from what is forecast in these types of forward-searching statements, and include, devoid of limitation, the adhering to: the impact of the world outbreak of COVID-19 on our small business and operations a part of our bookings might not direct to concluded gross sales, and our means to convert bookings into revenues at satisfactory revenue margins adjustments in world-wide economic disorders and the potential for unpredicted cancellations or delays of buyer orders in our noted backlog our dependence on our shoppers means to make needed cash financial commitment and servicing expenditures if we are not ready to productively execute and recognize the predicted financial gains from our strategic transformation and realignment initiatives, our enterprise could be adversely afflicted challenges involved with charge overruns on fastened-cost jobs and in having consumer orders for large complicated custom made engineered items the substantial dependence of our sales on the results of the oil and gas, chemical, electrical power generation and water administration industries the adverse effects of volatile uncooked components selling prices on our products and working margins financial, political and other challenges linked with our intercontinental functions, such as armed service steps, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could have an affect on customer marketplaces, significantly North African, Russian and Middle Eastern marketplaces and international oil and gasoline producers, and non-compliance with U.S. export/re-export manage, overseas corrupt observe laws, economic sanctions and import legislation and laws improved getting old and slower selection of receivables, significantly in Latin The us and other emerging marketplaces our exposure to fluctuations in international currency exchange prices, which includes in hyperinflationary countries such as Venezuela and Argentina our furnishing of products and solutions and products and services to nuclear power plant amenities and other significant procedures potential adverse penalties ensuing from litigation to which we are a party, this kind of as litigation involving asbestos-that contains substance statements anticipations pertaining to acquisitions and the integration of acquired corporations our relative geographical profitability and its impact on our utilization of deferred tax belongings, like overseas tax credits the possible adverse effect of an impairment in the carrying value of goodwill or other intangible assets our dependence on 3rd-occasion suppliers whose failure to complete timely could adversely have an affect on our business operations the remarkably aggressive character of the marketplaces in which we function environmental compliance costs and liabilities probable get the job done stoppages and other labor matters access to community and non-public resources of personal debt funding our inability to guard our mental assets in the U.S., as properly as in international countries obligations under our described profit pension options our interior management above money reporting may possibly not stop or detect misstatements because of its inherent constraints, such as the risk of human mistake, the circumvention or overriding of controls, or fraud the recording of greater deferred tax asset valuation allowances in the long run or the affect of tax law improvements on this sort of deferred tax property could affect our functioning benefits our facts technologies infrastructure could be topic to company interruptions, knowledge corruption, cyber-dependent assaults or community protection breaches, which could disrupt our business operations and outcome in the loss of crucial and confidential facts ineffective internal controls could impact the precision and well timed reporting of our company and monetary success and other elements described from time to time in our filings with the Securities and Trade Fee.
All ahead-hunting statements provided in this information launch are based mostly on details readily available to us on the day hereof, and we assume no obligation to update any ahead-on the lookout assertion.
The Business reviews its fiscal effects in accordance with U.S. generally acknowledged accounting ideas (GAAP). Nonetheless, management thinks that non-GAAP monetary steps which exclude selected non-recurring merchandise present additional valuable comparisons among existing effects and final results in prior running periods, providing investors with a clearer perspective of the underlying developments of the company. Management also makes use of these non-GAAP economic measures in building monetary, operating, planning and compensation choices and in evaluating the Company’s functionality. During our elements we refer to non-GAAP actions as Modified. Non-GAAP economical actions, which may perhaps be inconsistent with in the same way captioned actions presented by other firms, should really be seen in addition to, and not as a substitute for, the Companys noted final results well prepared in accordance with GAAP.
Jay Roueche, Vice President, Investor Relations & Treasurer (972) 443-6560
Mike Mullin, Director, Trader Relations, (972) 443-6636
Media Get in touch with:
Lars Rosene, Vice President, Corporate Communications & General public Affairs, (972) 443-6644