Flowserve announces quarterly cash dividend of $0.20 per share

DALLAS–(BUSINESS WIRE)–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 stock of the Stock Company.

The dividend is payable on April 8, 2022 to shareholders of record at the close of business on March 25, 2022.

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 of Directors at its discretion.

Safe Harbor Statement:

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 pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may”, “should”, “expect”, “could”, “intend”, “plan”, “anticipate”, “estimate”, “believe”, “expects”, “predicts” or other similar expressions are intended to identify forward-looking statements, which include, but are not limited to, earnings 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 status. The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. These forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties could cause actual results to differ materially from what is anticipated in these forward-looking statements, and include, but are not limited to, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not result in realized sales, and our ability to convert bookings into revenue with acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make necessary capital and maintenance expenditures; if we are unable to successfully execute and realize the expected financial benefits of our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-price projects and taking customer orders for large, complex, custom-designed products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the negative impact of commodity price volatility on our revenues 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 U.S. export/re-export controls, foreign bribery laws, economic sanctions, and laws and regulations in terms of imports; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to currency fluctuations, including in hyperinflationary countries such as Venezuela and Argentina; our supply of products and services to nuclear power plants and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving claims relating to asbestos-containing materials; 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 in the carrying value of goodwill or other intangible assets; our dependence on third-party suppliers whose failure to meet deadlines could harm 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 issues; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements due to its inherent limitations, including the possibility of human error, circumvention or circumvention of controls, or fraud; the recording of an increase in valuation allowances for deferred tax assets in the future or the impact of changes in tax legislation on these deferred tax assets could affect our results of operations; our information technology infrastructure could be subject to service interruptions, data corruption, cyberattacks or network security breaches, which could disrupt our business operations and result in the loss of critical information and confidential; ineffective internal controls could impact 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 undertake no obligation to update any forward-looking statement.

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