Jacobs Engineering Group Inc. Announces Initiation of Dividend Program
December 01 2016 - 9:39AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) today announced that
its Board of Directors has approved the initiation of a cash
dividend program under which we intend to pay a regular quarterly
dividend yielding approximately 1% per year starting in 2017.
Future dividend payments are subject to review and approval by the
Board of Directors.
“Our efforts to reorganize and restructure are transforming
Jacobs and reenergizing the business. By levering our strong
foundation, implementing a set of strategic imperatives, and
executing our capital deployment in a disciplined manner, we expect
to drive strong shareholder returns,” said Steve Demetriou, Jacobs
Chairman & CEO. "We believe the initiation of a dividend
demonstrates our commitment to enhancing shareholder value and
underscores our positive outlook for our future performance."
About Jacobs Engineering Group
Jacobs is one of the world’s largest and most diverse providers
of full-spectrum technical, professional and construction services
for industrial, commercial and government organizations globally.
The company employs over 54,000 people and operates in more than 25
countries around the world. For more information, visit
www.jacobs.com.
Statements made in this press release that are not based on
historical fact are forward-looking statements. Such statements
include, but are not limited to, Jacobs’ objectives regarding
shareholder returns and Jacobs’ intention to begin paying cash
dividends. The Board of Directors may modify or revoke the dividend
program at any time and authorization of dividends will be at the
discretion of the Board and will depend on a variety of factors
deemed relevant by the Board at the time. Although the
forward-looking statements included herein are based on
management's current estimates and expectations, and currently
available competitive, financial, and economic data,
forward-looking statements are inherently uncertain, and you should
not place undue reliance on such statements as actual results may
differ materially. We caution the reader that there are a variety
of risks, uncertainties and other factors that could cause actual
results to differ materially from what is contained, projected or
implied by our forward-looking statements. For a description of
some of the factors that may occur that could cause actual results
to differ from our forward-looking statements see our Annual Report
on Form 10-K for the period ended September 30, 2016, and in
particular the discussions contained under Item 1 - Business; Item
1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 -
Management's Discussion and Analysis of Financial Condition and
Results of Operations, as well as the Company’s other filings with
the SEC. We also caution the readers of this release that we do not
undertake to update any forward-looking statements made herein.
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version on businesswire.com: http://www.businesswire.com/news/home/20161201005834/en/
Jacobs Engineering Group Inc.Kevin C. BerrymanExecutive Vice
President and Chief Financial Officer214-583-8500
Jacobs Engineering (NYSE:JEC)
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