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 balanced approach to enhance shareowner return," said Gretchen McClain, Xylem’s President and CEO. "Our strong cash generation and prudent 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.About Xylem 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 www.xyleminc.com. Forward-Looking Statements 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.