Flowserve Corporation : Flowserve Announces Quarterly Cash Dividend of $0.14 Per Share

 Flowserve Corporation : Flowserve Announces Quarterly Cash Dividend of $0.14
                                  Per Share

DALLAS, August 15, 2013 - Flowserve Corporation (NYSE: FLS), a leading
provider of flow control products and services for the global infrastructure
markets, today announced that its board of directors has authorized the
payment of a quarterly cash dividend of $0.14 per share on the company's
outstanding shares of common stock. At $0.14 per share, the quarterly cash
dividend remains the same as the previous quarterly rate on a split-adjusted
basis.

The dividend is payable on October 11, 2013, to shareholders of record as of
the close of business on September 27, 2013.

While Flowserve currently intends to pay regular quarterly cash dividends for
the foreseeable future, any future dividends, at this $0.14 per share rate or
otherwise, will be reviewed individually and declared by the board at its
discretion, dependent on the board's assessment of the company's financial
condition and business outlook at the applicable time.

Investor Contact: Mike Mullin, director, investor relations, (972) 443-6636
Media Contact: Amy Allen, manager, Global Communications, (972) 443-6501

About Flowserve: Flowserve Corporation is one of the world's leading providers
of fluid motion and control products and services. Operating in more than 55
countries, the company produces engineered and industrial pumps, seals and
valves as well as a range of related flow management services. More
information about Flowserve can be obtained by visiting the company's Web site
at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995, as amended. Words or phrases such as, "may," "should," "expects,"
"could," "intends," "plans," "anticipates," "estimates," "believes,"
"forecasts," "predicts" or other similar expressions are intended to identify
forward-looking statements, which include, without limitation, earnings
forecasts, statements relating to our business strategy and statements of
expectations, beliefs, future plans and strategies and anticipated
developments concerning our industry, business, operations and financial
performance and condition.

The forward-looking statements included in this news release are based on our
current expectations, projections, estimates and assumptions. These statements
are only predictions, not guarantees. Such forward-looking statements are
subject to numerous risks and uncertainties that are difficult to predict.
These risks and uncertainties may cause actual results to differ materially
from what is forecast in such forward-looking statements, and include, without
limitation, the following: a portion of our bookings may not lead to completed
sales, and our ability to convert bookings into revenues at acceptable profit
margins; changes in the global financial markets and the availability of
capital and the potential for unexpected cancellations or delays of customer
orders in our reported backlog; our dependence on our customers' ability to
make required capital investment and maintenance expenditures; risks
associated with cost overruns on fixed-fee projects and in taking customer
orders for large complex custom engineered products; the substantial
dependence of our sales on the success of the oil and gas, chemical, power
generation and water management industries; the adverse impact of volatile raw
materials prices on our products and operating margins; our ability to execute
and realize the expected financial benefits from our strategic realignment
initiatives; economic, political and other risks associated with our
international operations, including military actions or trade embargoes that
could affect customer markets, particularly Middle Eastern markets and global
oil and gas producers, and non-compliance with U.S. export/re-export control,
foreign corrupt practice laws, economic sanctions and import laws and
regulations; our exposure to fluctuations in foreign currency exchange rates,
including in hyperinflationary countries such as Venezuela; our furnishing of
products and services to nuclear power plant facilities; potential adverse
consequences resulting from litigation to which we are a party, such as
litigation involving asbestos-containing material claims; a foreign government
investigation regarding our participation in the United Nations Oil-for-Food
Program; expectations regarding acquisitions and the integration of acquired
businesses; our foreign subsidiaries autonomously conducting limited business
operations and sales in certain countries identified by the U.S. State
Department as state sponsors of terrorism; our relative geographical
profitability and its impact on our utilization of deferred tax assets,
including foreign tax credits; the potential adverse impact of an impairment
in the carrying value of goodwill or other intangible assets; our dependence
upon third-party suppliers whose failure to perform timely could adversely
affect our business operations; the highly competitive nature of the markets
in which we operate; environmental compliance costs and liabilities; potential
work stoppages and other labor matters; our inability to protect our
intellectual property in the U.S., as well as in foreign countries;
obligations under our defined benefit pension plans; and other factors
described from time to time in our filings with the Securities and Exchange
Commission.

All forward-looking statements included in this news release are based on
information available to us on the date hereof, and we assume no obligation to
update any forward-looking statement.

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Source: Flowserve Corporation via Thomson Reuters ONE
HUG#1723403