nVent Increases Quarterly Dividend by 9%
12 Dezember 2023 - 12:30PM
Business Wire
nVent Electric plc (NYSE: NVT) announced today that its Board of
Directors declared a regular quarterly cash dividend of US$0.19 per
ordinary share for the first quarter of 2024, which represents an
increase of 9% over the prior quarterly dividend. The dividend is
payable on February 2, 2024, to shareholders of record at the close
of business on January 19, 2024.
“nVent is committed to delivering attractive returns to
shareholders through disciplined capital allocation, including our
focus on growth, paying a competitive dividend and share buybacks,”
said nVent Chair and Chief Executive Officer Beth Wozniak. “With
the electrification, digitalization and sustainability trends and
our confidence in our strategy, we are raising the dividend.”
About nVent nVent is a leading global provider of
electrical connection and protection solutions. We believe our
inventive electrical solutions enable safer systems and ensure a
more secure world. We design, manufacture, market, install and
service high performance products and solutions that connect and
protect some of the world's most sensitive equipment, buildings and
critical processes. We offer a comprehensive range of enclosures,
electrical connections and fastening and thermal management
solutions across industry-leading brands that are recognized
globally for quality, reliability and innovation. Our principal
office is in London and our management office in the United States
is in Minneapolis. Our robust portfolio of leading electrical
product brands dates back more than 100 years and includes nVent
CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Learn more at
www.nvent.com.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are
trademarks owned or licensed by nVent Services GmbH or its
affiliates.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that we believe to be
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact are forward looking statements.
Without limitation, any statements preceded or followed by or that
include the words “targets,” “plans,” “believes,” “expects,”
“intends,” “will,” “likely,” “may,” “anticipates,” “estimates,”
“projects,” “forecasts,” “should,” “would,” “could,” “positioned,”
“strategy,” “future,” “are confident,” or words, phrases or terms
of similar substance or the negative thereof, are forward-looking
statements. All projections in this press release are also
forward-looking statements. All statements made about the ECM
Industries acquisition, including the expected financial results of
the acquired business and the anticipated benefits of the
acquisition, are forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties, assumptions and other factors, some of
which are beyond our control, which could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These factors include our ability to
integrate the ECM Industries acquisition successfully; our ability
to retain customers and employees of the acquired business; adverse
effects on our business operations or financial results, including
due to the overall global economic and business conditions
impacting our business; the ability to achieve the benefits of our
restructuring plans; the ability to successfully identify, finance,
complete and integrate acquisitions; competition and pricing
pressures in the markets we serve, including the impacts of
tariffs; volatility in currency exchange rates, interest rates and
commodity prices; inability to generate savings from excellence in
operations initiatives consisting of lean enterprise, supply
management and cash flow practices; inability to mitigate material
and other cost inflation; risks related to the availability of, and
cost inflation in, supply chain inputs, including labor, raw
materials, commodities, packaging and transportation; increased
risks associated with operating foreign businesses, including risks
associated with the conflict between Russia and Ukraine and related
sanctions; the ability to deliver backlog and win future project
work; failure of markets to accept new product introductions and
enhancements; the impact of changes in laws and regulations,
including those that limit U.S. tax benefits; the impact of the
novel coronavirus 2019 (“COVID-19”) pandemic; the outcome of
litigation and governmental proceedings; and the ability to achieve
our long-term strategic operating goals. Additional information
concerning these and other factors is contained in our filings with
the Securities and Exchange Commission, including our Annual Report
on Form 10-K and our Quarterly Reports on Form 10-Q. All
forward-looking statements speak only as of the date of this press
release. nVent assumes no obligation, and disclaims any obligation,
to update the information contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20231211356577/en/
Investor Contact Tony Riter Vice President, Investor
Relations nVent 763.204.7750 Tony.Riter@nVent.com
Media Contact Stacey Wempen Director, External
Communications nVent 763.204.7857 Stacey.Wempen@nVent.com
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