Pentair Rewards Shareholders With 9% Hike in Quarterly Dividend

Zacks12-17

Pentair Plc PNR announced a 9% hike in the quarterly dividend payout, marking its 49th consecutive year of a dividend increase. This is in sync with PNR’s long-standing commitment to returning capital...

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This is in sync with PNR’s long-standing commitment to returning capital...</p>\n\n<a href=\"https://finance.yahoo.com/news/pentair-rewards-shareholders-9-hike-155700580.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1596574779.USD","symbol_name":"BNP PARIBAS AQUA \"C\" (USDHDG) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/pentair-rewards-shareholders-9-hike-155700580.html","article_id":"2492995884","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/xPh8Pq893e8oyuKffyOsGA--~B/aD00MTg7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/32d8e94aebaf848ba2ae713940d56cb7"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492995884","pubTimestamp":1734451020,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Pentair Plc PNR announced a 9% hike in the quarterly dividend payout, marking its 49th consecutive year of a dividend increase. 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This is in sync with PNR’s long-standing commitment to returning capital to shareholders.\nDetails of PNR’s Quarterly Dividend Hike\nPentair will pay the new quarterly dividend of 25 cents on Feb. 7, 2025, to shareholders of record as of Jan. 24, 2025. The raised dividend takes the company’s dividend yield from the current 0.85% to 0.92%. PNR has a three-year dividend growth rate of 4.8%. It has a payout ratio of 22.3%.\nPentair’s Peer Dividend Performance\nPNR’s industry peer Select Water Solutions, Inc. WTTR pays a quarterly dividend of 7 cents. WTTR has a payout ratio of 42.4%.Then again, Republic Services, Inc. RSG has a quarterly dividend of 58 cents. The company has a three-year dividend growth rate of 5.2%. RSG has a payout ratio of 26.3%.Waste Connections, Inc. WCN has a quarterly dividend of 32 cents. The company has a three-year dividend growth rate of 11.6%. WCN has a payout ratio of 24.7%.\nPentair’s Cash Position & Balance Sheet\nPNR had cash and cash equivalents of around $218 million at the end of the third quarter of 2024 compared with $170 million at 2023-end. Net cash generated from operating activities was $680.4 million in the first nine months of the current year compared with $502.3 million in the prior-year period. Pentair had a long-term debt of $1.63 billion as of Sept. 30, 2024, down from $1.99 billion as of Dec. 31, 2023.Over the past five years, the company has generated a free cash flow of more than $2 billion. PNR has a long-term target to consistently generate free cash flow greater than 100% of net income.Pentair restarted share repurchases in the first quarter of 2024 and bought back 1.2 million shares so far in 2024. As of Sept. 30, 2024, the company had $500 million available for share repurchases under this authorization.\nPNR Stock’s Price Performance\nImage Source: Zacks Investment Research\nThe Pentair stock has gained 55.4% over the past year compared with the industry’s growth of 20.6%.\nPentair’s Zacks Rank\nThe company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nRepublic Services, Inc. (RSG) : Free Stock Analysis Report\nPentair plc (PNR) : Free Stock Analysis Report\nWaste Connections, Inc. (WCN) : Free Stock Analysis Report\nSelect Water Solutions, Inc. (WTTR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492995884"}