Pentair hikes dividend by 8.7%
Pentair (PNR), a global water solutions company, has announced an 8.7% increase to its quarterly dividend, raising it to $0.25 per share. At the current stock price of $105.49, this results in a dividend yield of 0.85%. The company’s annual dividend payout now rises to $165 million.
This latest hike marks the largest dividend increase for Pentair since 2014 and highlights its status as a Dividend Aristocrat, with nearly 50 consecutive years of annual dividend increases. However, dividend growth has been relatively modest, with a 5-year compound annual growth rate (CAGR) of 5.6% and a 10-year CAGR of less than 5%.
About Pentair
Pentair, headquartered in London, provides water treatment and sustainable water solutions to residential, commercial, and industrial customers. Its offerings include water filtration, pool equipment, and flow solutions that aim to address the growing demand for clean water and efficient water management.
The company’s focus on innovation and sustainability has made it a key player in the water industry, catering to both consumer needs and global environmental challenges.
Key Highlights of PNR’s Dividend History
8.7% Increase in 2024: The quarterly dividend rises to $0.25 per share, marking the largest hike since 2014.
Dividend Aristocrat: Pentair has increased its dividend for nearly 50 consecutive years, a testament to its financial resilience.
Annual Payout: The annual dividend payment increases to $165 million, supported by the company’s strong cash flow.
Modest Growth Rates: Despite its long track record, dividend growth has been slow, with a 5-year CAGR of 5.6% and a 10-year CAGR below 5%.
Dividend Yield: The current dividend yield stands at 0.85% based on a stock price of $105.49.
Pentair’s dividend history reflects both its reliability as a Dividend Aristocrat and its conservative approach to payout growth. While the latest increase is notable, long-term dividend growth has remained modest compared to peers. The company’s commitment to consistent dividend payments underscores its focus on shareholder returns and operational stability.
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