Flowserve Raises Dividend; Reaffirms 2016 Adj. EPS Guidance - Quick Facts

(RTTNews) - Flowserve Corp. (FLS) announced its Board has authorized the payment of a quarterly cash dividend of $0.19 per share on the company's outstanding shares of common stock. This dividend represents a 5.6% increase compared to the $0.18 per share amount paid in January 2016. The dividend is payable on April 8, 2016, to shareholders of record as of the close of business on March 25, 2016.

Flowserve reaffirmed its 2016 adjusted EPS target range of $2.40 to $2.75 with expected revenues declining 7 to 14 percent year-over-year, including a forecasted 2 percent currency headwind. The company expects its 2016 adjusted EPS to be weighted toward the second half of 2016, reflecting normal seasonality.