DALLAS–(BUSINESS WIRE)–Flowserve Corp. (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, has released the voting results of its 2025 Annual Meeting of Shareholders and announced its quarterly cash dividend.
Annual Meeting Results
At the virtual Annual Meeting, Flowserve’s shareholders re-elected Sujeet Chand, Ruby R. Chandy, Gayla J. Delly, John L. Garrison, Cheryl H. Johnson, Michael C. McMurray, Thomas B. Okray, R. Scott Rowe, and Kenneth I. Siegel to its Board of Directors, each to serve an annual term expiring at the 2026 Annual Meeting of Shareholders.
After more than 13 years of dedicated service to Flowserve, including his leadership as Independent Chairman, David E. Roberts did not stand for re-election. Mr. Garrison assumed the role of Independent Chairman following his election at the Annual Meeting.
Shareholders elected a new director, Ross B. Shuster, to the board to also serve an annual term expiring at the 2026 Annual Meeting. Mr. Shuster is the CEO of Copeland, a global climate technologies company. He previously served as chief executive officer of Howden and held leadership roles for various regional businesses at United Technologies Corporation.
“On behalf of Flowserve employees around the world, I would like to thank David Roberts for his strong and consistent leadership over the past 13 years as a director and, more recently, as Independent Chairman,” said Scott Rowe, Flowserve president and chief executive officer. “I look forward to continuing our work with John Garrison as he now becomes our Independent Chairman following seven years of board service and welcoming Ross Shuster, who brings extensive and impressive experience in international operations and manufacturing. The strategic guidance and oversight of our Board will be invaluable as we execute our growth strategy and continue making progress toward our 2027 financial targets.”
The remaining voting results were as follows:
- Shareholders approved an advisory vote on executive compensation, with about 98.3 percent voting in favor of the proposal.
- Shareholders ratified the appointment of PricewaterhouseCoopers LLP as Flowserve’s independent registered public accounting firm for 2025.
- Shareholders rejected a shareholder proposal requesting the elimination of the one-year holding period requirement to call a special shareholder meeting, with about 90.0 percent voting against the proposal.
Final voting results on all agenda items will be available in a Current Report on Form 8-K to be filed following certification by Flowserve’s inspector of elections. Biographies for all members of the board can be found in Flowserve’s 2025 Proxy Statement or on www.flowserve.com.
Dividends Declared
Flowserve’s Board of Directors has authorized a quarterly cash dividend of $0.21 per share on outstanding shares of common stock.
The dividend is payable July 11, 2025, to shareholders of record as of the close of business on June 27, 2025.
While Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends at this $0.21 per share rate or otherwise will be reviewed individually and declared by the Board of Directors at its discretion.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: global supply chain disruptions and the current inflationary environment could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected; the substantial dependence of our sales on the success of the energy, chemical, power generation and general industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics and changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; the impact of public health emergencies, such as outbreaks of epidemics, pandemics, and contagious diseases, on our business and operations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; potential adverse effects resulting from the implementation of new tariffs and related retaliatory actions and changes to or uncertainties related to tariffs and trade agreements; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Argentina; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; if we are not able to maintain our competitive position by successfully developing and introducing new products and integrate new technologies, including artificial intelligence and machine learning; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the United States, as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Contacts
Investor Relations Contacts
Brian Ezzell, Vice President, Investor Relations, Treasurer & Corporate Finance, (972) 443-6560
Tarek Zeni, Director, Investor Relations, (469) 420-4045
Media Contact:
Wes Warnock, Vice President, Marketing & Communications, (972) 443-6900
