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Zurn Water Solutions Initiates a Quarterly Cash Dividend
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Zurn Water Solutions Corporation (NYSE: ZWS) has declared a quarterly dividend of $0.03 per share, payable on December 7, 2021, to shareholders on record as of November 19, 2021. This decision by the Board of Directors reflects the company's commitment to increasing shareholder value, backed by strong cash flow and low leverage. Zurn aims to balance dividend payments with investments in organic growth and strategic acquisitions to enhance its market position.
Positive
Initiated a quarterly dividend of $0.03 per share, enhancing shareholder value.
Strong cash flow and low leverage support dividend payments.
Negative
None.
MILWAUKEE--(BUSINESS WIRE)--
Zurn Water Solutions Corporation (NYSE: ZWS) announced today that its Board of Directors initiated a quarterly common stock dividend of $0.03 per share payable in cash on December 7, 2021 to stockholders of record as of November 19, 2021.
“As we launch Zurn Water Solutions our Board of Directors has decided to initiate a dividend to reflect our unwavering 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 Water Solutions
Headquartered in Milwaukee, Wisconsin, Zurn 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 product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, hygienic and environmental and site works products for public and private spaces. Additional information about the Company can be found at www.zurnwatersolutions.com.
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 Water Solutions Corporation as of the date of the release, and Zurn 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 transition period ended December 31, 2020 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.
