DALLAS--(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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Source: Jacobs Engineering Group Inc.