Xylem Inc. declares Q3 dividend of 11.64 cents per share; announces a $250
million share repurchase program
WHITE PLAINS, N.Y. -- August 21, 2013
The Board of Directors of Xylem Inc. (NYSE:XYL) has declared a second quarter
dividend of $0.1164 per share payable on September 18, 2013 to shareowners of
record on September 4, 2013. Xylem is a leading global water technology
company focused on addressing the world’s most challenging water issues.
The Board also authorized a $250 million share repurchase program.
“We believe this provides a balancedapproach to enhance shareowner return,"
said Gretchen McClain, Xylem’s President and CEO. "Our strong cash generation
andprudent usage of cash allow us to deploy our capital in a manner that
benefits our shareowners and maintains our focus on growth.”
Repurchases under the new program will be made in the open market and are
expected to be executed over three years.
Xylem (NYSE:XYL) is a leading global water technology provider, enabling
customers to transport, treat, test and efficiently use water in public
utility, residential and commercial building services, industrial and
agricultural settings. The company does business in more than 150 countries
through a number of market-leading product brands, and its people bring broad
applications expertise with a strong focus on finding local solutions to the
world’s most challenging water and wastewater problems. Xylem is headquartered
in White Plains, N.Y., with 2012 annual revenues of $3.8 billion and
approximately 12,900 employees worldwide. In 2012, Xylem was named to the Dow
Jones Sustainability World Index for advancing sustainable business practices
and solutions worldwide.
The name Xylem is derived from classical Greek and is the tissue that
transports water in plants, highlighting the engineering efficiency of our
water-centric business by linking it with the best water transportation of all
-- that which occurs in nature. For more information, please visit us at
This document contains information that may constitute “forward-looking
statements.” Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Generally, the words “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target” and
similar expressions identify forward-looking statements, which generally are
not historical in nature. However, the absence of these words or similar
expressions does not mean that a statement is not forward-looking.
These forward-looking statements include, but are not limited to, statements
about the separation of Xylem Inc. (the “Company”) from ITT Corporation in
2011, capitalization of the Company, future strategic plans and other
statements that describe the Company’s business strategy, outlook, objectives,
plans, intentions or goals, and any discussion of future operating or
financial performance. All statements that address operating performance,
events or developments that we expect or anticipate will occur in the future—
including statements relating to orders, sales, operating margins and earnings
per share growth, and statements expressing general views about future
operating results— are forward-looking statements.
Caution should be taken not to place undue reliance on any such
forward-looking statements because they involve risks, uncertainties and other
factors that could cause actual results to differ materially from those
expressed or implied in, or reasonably inferred from, such statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law. In addition, forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from the Company’s historical experience
and our present expectations or projections. These risks and uncertainties
include, but are not limited to, those set forth in Item 1A in our Annual
Report on Form 10-K, and those described from time to time in subsequent
reports filed with the Securities and Exchange Commission.
Tom Glover, +1-914-323-5891
Phil DeSousa, +1-914-323-5930
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