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.
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