Pentair Announces Quarterly Cash Dividend

Rhea-AI Summary

Pentair plc (PNR) declares a quarterly cash dividend of $0.23 per share, continuing a 48-year streak of dividend increases.

Financial Analyst

Dividend payments are a significant indicator of a company's financial health and its commitment to returning value to shareholders. Pentair plc's announcement of a regular quarterly cash dividend payment of $0.23 per share is a testament to the company's consistent performance and stable cash flow. The fact that 2024 marks the 48th consecutive year of dividend increases speaks volumes about Pentair's financial discipline and long-term strategy. Such a track record can be a strong signal to investors about the reliability of the company as an income-generating investment.

Moreover, consistent dividend growth can potentially attract a certain class of income-seeking investors, particularly those who are retirees or conservative investors looking for steady income streams. It's imperative to analyze the dividend yield, which is the dividend per share divided by the price per share, to understand the attractiveness of the dividend in relation to the current stock price. Investors should also consider the payout ratio, which is the proportion of earnings paid out as dividends to shareholders, to assess the sustainability of the dividend payments.

Market Research Analyst

From a market perspective, Pentair's dividend increase can be seen as a positive signal, potentially leading to a favorable perception among analysts and investors. It suggests that the company is confident in its future earnings and cash flow, enough to share profits with its shareholders regularly. The psychological impact of a rising dividend can also contribute to investor confidence, as it may be perceived as a sign of a company's resilience and optimistic outlook.

However, it's important to contextualize this dividend announcement within the broader industry and economic environment. Factors such as interest rate trends, inflation and overall market conditions can influence the attractiveness of dividend stocks. In a low-interest-rate environment, for instance, dividend stocks can become more appealing as they offer better returns than many fixed-income alternatives. Conversely, in a high-interest-rate environment, the opportunity cost of holding dividend stocks increases, which could impact their demand.

LONDON--(BUSINESS WIRE)-- Pentair plc (NYSE: PNR) announced today that it will pay a regular quarterly cash dividend of $0.23 per share on May 3, 2024 to shareholders of record at the close of business on April 19, 2024. 2024 marks the 48th consecutive year that Pentair has increased its dividend.

ABOUT PENTAIR PLC

At Pentair, we help the world sustainably move, improve and enjoy water, life’s most essential resource. From our residential and business water solutions, to industrial water management and everything in between, Pentair is 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 Pentair.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240219738738/en/

Pentair Contacts:

Shelly Hubbard

Vice President, Investor Relations

Tel: 763-656-5575

E-mail: shelly.hubbard@pentair.com



Rebecca Osborn

Director, Communications

Tel: 763-656-5589

Email: rebecca.osborn@pentair.com

Source: Pentair plc

What is the dividend amount announced by Pentair plc (PNR)?

Pentair plc (PNR) declared a regular quarterly cash dividend of $0.23 per share.

When will the dividend be paid to shareholders of Pentair plc (PNR)?

The dividend will be paid on May 3, 2024, to shareholders of record at the close of business on April 19, 2024.

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

Pentair plc (PNR) has increased its dividend for 48 consecutive years.