nVent Announces Quarterly Cash Dividend

Rhea-AI Summary

nVent Electric plc (NYSE: NVT) announced a quarterly cash dividend of US$0.175 per ordinary share, payable on May 12, 2023. Shareholders registered as of April 28, 2023 will receive this dividend. nVent, a global provider of electrical solutions, offers a broad range of protective and connection products, supporting critical infrastructure. Their brands, including CADDY, ERICO, and HOFFMAN, are recognized worldwide for quality and innovation. The announcement reflects nVent's commitment to returning value to shareholders while continuing to reinforce its market position in an evolving economic landscape.

Positive

• Quarterly cash dividend of US$0.175 per share enhances shareholder returns.
• Signals company confidence and commitment to value distribution.

Negative

• Potential risks from global economic conditions could impact financial results.
• Forward-looking statements indicate uncertainties that may affect future performance.

LONDON--(BUSINESS WIRE)-- nVent Electric plc (NYSE: NVT) announced today that it will pay a regular quarterly cash dividend of US$0.175 per ordinary share on May 12, 2023, to shareholders of record at the close of business on April 28, 2023.

About nVent

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Learn more at www.nvent.com.

nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.

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,” “forecasts,” “should,” “would,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also 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 adverse effects on our business operations or financial results, including due to the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions; competition and pricing pressures in the markets we serve, including the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses, including risks associated with the conflict between Russia and Ukraine and related sanctions; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the impact of the novel coronavirus 2019 (“COVID-19”) pandemic; 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 Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005952/en/

Investor Contact

Tony Riter

Vice President, Investor Relations

nVent

763.204.7750

Tony.Riter@nVent.com

Media Contact

Stacey Wempen

Director, External Communications

nVent

763.204.7857

Stacey.Wempen@nVent.com

Source: nVent Electric plc

FAQ

What is the dividend amount for nVent Electric plc?

nVent Electric plc announced a quarterly cash dividend of US$0.175 per share.

When will nVent Electric plc pay its dividend?

The dividend will be paid on May 12, 2023.

Who is eligible to receive the nVent dividend?

Shareholders of record as of April 28, 2023, are eligible to receive the dividend.

What is the significance of the nVent dividend announcement?

The dividend announcement reflects nVent's commitment to shareholder returns and financial stability.

What risks are associated with nVent's forward-looking statements?

Risks include global economic conditions, competition, and operational challenges.