DALLAS--(BUSINESS WIRE)--Jacobs Engineering Group Inc. (NYSE:JEC) today announced that its Board of Directors has approved a declaration of a cash dividend to shareholders. A quarterly dividend of $0.15 per share will be paid on March 17, 2017, to shareholders of record on the close of business on February 17, 2017.
“The decision by Jacobs Board of Directors to initiate a dividend represents a significant milestone for the company and demonstrates confidence in the company’s strong operating performance, significant free cash flow generation, and financial outlook over the long-term,” said Steve Demetriou, Jacobs Chairman & CEO. “We remain committed to enhancing shareholder value and are pleased to return excess capital to our shareholders, while continuing to maintain our existing share repurchase program.”
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. Although such statements 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. Specifically, Jacobs may be unable to pay dividends in future quarters or its Board of Directors may reduce the amount of the dividend for a number of reasons, including, without limitation, due to changes in its financial condition or material developments in Jacobs’ business. For a description of some of the other 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.
