Flowserve Corp Increases Quarterly Cash Dividend 5% From $0.20 To $0.21 Per Share And Replenished Total Stock Repurchase Authorization To $300 Million
Portfolio Pulse from Benzinga Newsdesk
Flowserve Corp announced a 5% increase in its quarterly cash dividend to $0.21 per share and replenished its total stock repurchase authorization to $300 million. The dividend is payable on April 12, 2024, to shareholders of record as of March 28, 2024. The company's board will review future dividends individually.
February 20, 2024 | 9:13 pm
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Flowserve Corp increases its quarterly dividend to $0.21 per share and replenishes its stock repurchase program to $300 million.
Increasing the dividend and replenishing the stock buyback program signals Flowserve's confidence in its financial health and commitment to returning value to shareholders. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100