Zurn Elkay Water Solutions Increases Quarterly Cash Dividend

Rhea-AI Summary

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) announced a quarterly dividend of $0.07 per share, payable on September 7, 2022, to stockholders on record by August 19, 2022. This represents more than a twofold increase from their initial quarterly dividend, demonstrating the company's commitment to shareholder value. According to CEO Todd A. Adams, strong cash flow and low leverage enable continued dividend payments while supporting organic growth and strategic acquisitions.

Positive

• Quarterly dividend increased to $0.07 per share, more than doubling the initial amount.
• Strong cash flow and low leverage position the company for sustained dividend payments and growth.
• Commitment to delivering shareholder value emphasized by the Board of Directors.

Negative

• None.

MILWAUKEE--(BUSINESS WIRE)-- Zurn Elkay Water Solutions Corporation (NYSE: ZWS) announced today that its Board of Directors declared a quarterly common stock dividend of $0.07 per share payable in cash on September 7, 2022 to stockholders of record as of August 19, 2022.

“The dividend we declared today more than doubles the initial quarterly dividend we started with as a pure play water solutions business. With the transformation to Zurn Elkay Water Solutions our Board of Directors has increased the dividend to reflect our continued commitment to delivering shareholder value,” said Todd A. Adams, Chairman and Chief Executive Officer. “Our robust cash flow, strong financial characteristics and low leverage supports our ability to consistently pay a dividend while continuing to invest in our core business to drive organic growth as well as to execute strategic acquisitions.”

About Zurn Elkay Water Solutions

Headquartered in Milwaukee, Wisconsin, Zurn Elkay Water Solutions is a growth-oriented, pure-play water business that designs, procures, manufactures, and markets what we believe is the broadest sustainable product portfolio of solutions to improve health, human safety, and the environment. The Zurn Elkay product portfolio includes professional grade water control and safety, water distribution and drainage, drinking water, finish plumbing, hygienic, environmental and site works products for public and private spaces. Visits www.zurn-elkay.com for additional information about the Company.

Forward-Looking Statements

Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Zurn Elkay Water Solutions Corporation as of the date of the release, and Zurn Elkay Water Solutions Corporation assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in the Company’s Form 10-K for the period ended December 31, 2021 as well as the Company’s annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the SEC for a further discussion of the factors and risks associated with the business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220721005813/en/

Investor Relations:

Dave Pauli, Vice President – Investor Relations

414-223-7770

Media Relations Zurn:

Angela Hersil, Director – Corporate Communications

855-480-5050

414-808-0199

Corporate.Communications@zurn.com

Source: Zurn Elkay Water Solutions Corporation

FAQ

What is the dividend declaration date for ZWS?

The dividend declaration date for Zurn Elkay Water Solutions (ZWS) was on July 21, 2022.

When will the dividend for ZWS be paid?

The dividend for Zurn Elkay Water Solutions will be paid on September 7, 2022.

What is the amount of the dividend declared by ZWS?

Zurn Elkay Water Solutions declared a dividend of $0.07 per share.

Who is eligible to receive the dividend from ZWS?

Stockholders of record as of August 19, 2022, are eligible to receive the dividend.

How has ZWS's dividend changed over time?

The current dividend of $0.07 per share represents more than a twofold increase compared to ZWS's initial quarterly dividend.