Ingersoll Rand Declares Quarterly Dividend and Initiates New Share Repurchase Program

October 03, 2018

SWORDS, Ireland--(BUSINESS WIRE)-- Ingersoll-Rand plc (NYSE: IR), a world leader in creating comfortable, sustainable and efficient environments, announced that its Board of Directors declared a quarterly dividend of 53 cents per ordinary share of the company, payable December 31, 2018 to shareholders of record on December 7, 2018.

Ingersoll Rand has paid consecutive quarterly cash dividends on its common shares since 1919 and annual dividends since 1910.

The Board of Directors also authorized a new share repurchase program of up to $1.5 billion of the company’s ordinary shares, to commence upon the completion of the company’s current $1.5 billion program.

“Our strong balance sheet and free cash flow give us the flexibility to execute a balanced capital deployment strategy that includes reinvesting in our businesses, a healthy dividend growing at rates above our earnings growth, strategic acquisitions, and opportunistic share repurchases,” said Mike Lamach, chairman and chief executive officer of Ingersoll Rand. “Our proven track record of redeploying cash flow from operations has enabled us to successfully execute our strategy to profitably grow the company while continuing to deliver short and long-term value to our shareholders.”

The timing of the program will be dependent on the company’s available liquidity and cash flow, and general market conditions. The repurchase program may be executed through various methods, including open market repurchases.

About Ingersoll Rand

Ingersoll Rand (NYSE: IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands — including Club Car®, Ingersoll Rand®, Thermo King® and Trane® — work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $14 billion global business committed to a world of sustainable progress and enduring results. For more information, visit www.ingersollrand.com.

This news release includes “forward-looking statements,” which are statements that are not historical facts, including, but not limited to, statements that relate to the timing and execution of the Company’s new share repurchase program and the amount of shares to be repurchased (if any). The forward-looking statements in this news release are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are outside of our control, and could cause results to materially differ from expectations. Such factors include, but are not limited to, global economic conditions, the outcome of any litigation, demand for our products and services, and tax law changes. Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2017, as well as our subsequent reports on Form 10-Q and other SEC filings. We assume no obligation to update these forward-looking statements.

Ingersoll Rand
Media:
Perri Richman, 732-652-6943
prichman@irco.com
or
Investors:
Zac Nagle, 704-990-3913
investorrelations@irco.com

Source: Ingersoll Rand

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