Pentair Dividend Set to Rise After Sales Gain on Energy Demand

The board of Pentair Ltd. (PNR), a water system provider whose sales have risen on energy producers’ demand for valves and flow controls, recommended that shareholders approve a 20 percent dividend increase.

Pentair, which acquired Tyco International Ltd.’s flow-control unit in 2012, said today that shareholders could vote to raise the quarterly dividend to 30 cents a share from the current 25 cents at the May 20 annual general meeting. Pentair shares have climbed 60 percent the past year compared with a 12 percent gain by the 20-member Bloomberg World Water Index.

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.