Attached files
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8-K - FORM 8-K - GARDNER DENVER INC | c64453e8vk.htm |
EX-99.2 - EX-99.2 - GARDNER DENVER INC | c64453exv99w2.htm |
Exhibit 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE |
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May 3, 2011
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Contact: Michael M. Larsen | |
Vice President and CFO | ||
(610) 249-2002 |
GARDNER DENVER, INC. DECLARES QUARTERLY CASH DIVIDEND, ANNOUNCES
COMPLETION OF REDEMPTION OF ITS 8% SENIOR SUBORDINATED NOTES DUE 2013
COMPLETION OF REDEMPTION OF ITS 8% SENIOR SUBORDINATED NOTES DUE 2013
WAYNE, PA May 3, 2011 Gardner Denver, Inc. (NYSE: GDI) announced today that its Board of
Directors declared a quarterly dividend of $0.05 per share, payable on June 2, 2011, to
stockholders of record as of May 17, 2011.
Gardner Denver also announced today that it has redeemed all $125,000,000 in aggregate principal
amount of its outstanding 8% Senior Subordinated Notes due 2013 (the Notes). The Notes were
redeemed on May 2, 2011 at a redemption price equal to 100% of the principal amount thereof, plus
accrued and unpaid interest to, but not including, the date of the redemption. The redemption was
financed using available cash and borrowings under the Companys existing revolving credit
facility.
Gardner Denver, Inc., with 2010 revenues of approximately $1.9 billion, is a leading worldwide
manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers
for various industrial, medical, environmental, transportation and process applications, pumps used
in the petroleum and industrial market segments and other fluid transfer equipment, such as loading
arms and dry break couplers, serving chemical, petroleum and food industries. Gardner Denvers
news releases are available by visiting the Investors section on the Companys website
(www.GardnerDenver.com).
Cautionary Statement Regarding Forward-Looking Statements
All of the statements in this release, other than historical facts, are forward-looking statements
made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995,
including, without limitation, the statements made concerning the Companys intent to pay an annual
cash dividend and the Companys financial ability and sources to fund the dividend program. As a
general matter, forward-looking statements are those focused upon anticipated events or trends,
expectations, and beliefs relating to matters that are not historical in nature. Such
forward-looking statements are subject to uncertainties and factors relating to the Companys
operations and business environment, all of which are difficult to predict and many of which are
beyond the control of the Company. The Boards expectation that dividends will continue to be paid
on a quarterly basis assumes that the Companys financial condition will permit the payment under
Delaware law; that its operations will continue to generate sufficient cash flow to warrant the
payment of a dividend and that market conditions and applicable laws and regulations make payment
of a dividend appropriate. Any future dividend payments will depend upon the judgment of the Board,
based upon the best interests of the Company, its stockholders and other constituents, and will be
made only at the Boards discretion. Further risks that could cause actual results to differ
materially from those matters expressed in or implied by such forward-looking statements are set
forth under Risk Factors in the Companys Form 10-K for the fiscal year ended December 31, 2010.
The Company does not undertake, and hereby disclaims, any duty to update these forward-looking
statements, although its situation and circumstances may change in the future.
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