Zurn Water Solutions (ZWS), formerly Rexnord Corp, will start paying a quarterly dividend of $0.03 per share. Previously Rexnord Corp paid a $0.09 per share quarterly dividend with a dividend of 8 cents initiated in 2020. Earlier this year Rexnord announced a 12.5 percent dividend hike.
Zurn Water Solutions Corporation announced today that its Board of Directors initiated a quarterly common stock dividend of $0.03 per share payable in cash on December 7, 2021 to stockholders of record as of November 19, 2021.
“As we launch Zurn Water Solutions our Board of Directors has decided to initiate a dividend to reflect our unwavering commitment to delivering shareholder value,” said Todd A. Adams, Chairman and Chief Executive Officer. “Our robust cash flow, strong financial characteristics and low leverage supports our ability to consistently pay a dividend while continuing to invest in our core business to drive organic growth as well as to execute strategic acquisitions.”
Headquartered in Milwaukee, Wisconsin, Zurn is a growth-oriented, pure-play water business that designs, procures, manufactures, and markets what we believe is the broadest sustainable product portfolio of solutions to improve health, human safety and the environment. The Zurn product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, hygienic and environmental and site works products for public and private spaces.