Courtesy of Benzinga.
Pentair Ltd. (NYSE: PNR) today announced that its sole shareholder prior to the spin-off, Tyco International Ltd. (Tyco), has authorized Pentair Ltd. to pay a cash dividend of $0.22 per share on November 9, 2012 to shareholders of record on October 26, 2012. Prior to the spin off, the Pentair Ltd. board also authorized an initial stock repurchase program consistent with the March, 2012 merger announcement of $400 million to commence immediately on October 1, 2012.
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