Pentair Announces Rate Increase to Its Quarterly Cash Dividend

Rhea-AI Summary

Pentair (NYSE: PNR) has announced a 9% increase in its quarterly cash dividend to $0.25 per share, up from $0.23 per share in 2024. The new dividend will be payable on February 7, 2025, to shareholders of record as of January 24, 2025. On an annualized basis, this represents an increase from $0.92 to $1.00 per share. This marks Pentair's 49th consecutive year of dividend increases, demonstrating the company's commitment to delivering shareholder value.

Positive

• 9% increase in quarterly dividend from $0.23 to $0.25 per share
• 49th consecutive year of dividend increases
• Annual dividend reaches $1.00 per share milestone

Negative

• None.

LONDON--(BUSINESS WIRE)-- Pentair plc (NYSE: PNR), a leader in helping the world sustainably move, improve and enjoy water, life’s most essential resource, announced today that it will pay a regular quarterly cash dividend of $0.25 per share on February 7, 2025, to shareholders of record at the close of business on January 24, 2025. The $0.25 per share quarterly cash dividend, or $1.00 per share on an annualized basis, represents an approximate 9 percent increase in the company’s regular cash dividend rate as compared to $0.23 per share per quarter in 2024, or $0.92 per share on an annualized basis. 2025 will mark the 49th consecutive year that Pentair has increased its dividend.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This 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,” “could,” “positioned,” “strategy,” or “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 overall global economic and business conditions impacting our business, including the strength of housing and related markets and conditions relating to international hostilities; supply, demand, logistics, competition and pricing pressures related to and in the markets we serve; the ability to achieve the benefits of our restructuring plans, cost reduction initiatives and Transformation Program; the impact of raw material, logistics and labor costs and other inflation; volatility in currency exchange rates and interest rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; risks associated with operating foreign businesses; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating and environmental, social and governance (“ESG”) goals and targets. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023. All forward-looking statements, including all financial forecasts, speak only as of the date of this release. Pentair assumes no obligation, and disclaims any obligation, to update the information contained in this release.

ABOUT PENTAIR PLC

At Pentair, we help the world sustainably move, improve and enjoy water, life’s most essential resource. From our residential and commercial water solutions, to industrial water management and everything in between, Pentair is a core large cap value equity stock focused on smart, sustainable water solutions that help our planet and people thrive.

Pentair had revenue in 2023 of approximately $4.1 billion, and trades under the ticker symbol PNR. With approximately 10,500 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit www.pentair.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216895652/en/

Shelly Hubbard

Vice President, Investor Relations

Direct: 612-812-0148

Email: shelly.hubbard@pentair.com

Rebecca Osborn

Sr. Director, Communications

Direct: 763-656-5589

Email: rebecca.osborn@pentair.com

Source: Pentair plc

FAQ

What is Pentair's new quarterly dividend rate for 2025?

Pentair's new quarterly dividend rate for 2025 is $0.25 per share, representing a 9% increase from $0.23 per share in 2024.

When will Pentair (PNR) pay its next quarterly dividend?

Pentair will pay its quarterly dividend on February 7, 2025, to shareholders of record as of January 24, 2025.

How much has Pentair's annual dividend increased for 2025?

Pentair's annual dividend has increased from $0.92 per share in 2024 to $1.00 per share in 2025.

How many consecutive years has Pentair (PNR) increased its dividend?

2025 will mark Pentair's 49th consecutive year of dividend increases.

What is the dividend record date for Pentair's Q1 2025 dividend?

The dividend record date is January 24, 2025, for shareholders to be eligible for the Q1 2025 dividend payment.