SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported) December 29, 1997
PENTAIR, INC.
(Exact Name of Registrant as specified in Its Charter)
MINNESOTA 001-11625 41-0907434
(State of Incorporation (Commission File (I.R.S. Employer
or Organization) Number) Identification No.)
1500 County Road B2 West, St. Paul, Minnesota 55113-3105
(Address of Principal Executive Offices) (Zip Code)
612.636.7920
(Registrant's Telephone Number, Including Area Code)
Item 5. Other Matters
On December 29, 1997, the Board of Directors of Pentair, Inc. (the Registrant)
authorized the repurchase of up to 350,000 shares of Pentair common stock
within the next 12 months. Any purchases would be made periodically in the
open market, by block purchases or private transactions. The share repurchase
is intended to offset the dilution caused by stock issuances under employee
stock compensation plans.
Item 7. Financial Statements and Exhibits.
a. Not applicable
b. Not applicable
c. Exhibits
Exhibit 99 Press release dated December 29, 1997
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PENTAIR, INC.
By: Richard W. Ingman
Executive Vice President and
Chief Financial Officer
Dated: January 13, 1998
Exhibit 99
NEWS RELEASE DATED DECEMBER 29, 1997
PENTAIR BOARD RAISES ANNUAL DIVIDEND RATE 10 PERCENT TO 60 CENTS PER
SHARE AND AUTHORIZES SHARE REPURCHASE PLAN
ST. PAUL, Minn. -- Pentair, Inc. (NYSE:PNR) today announced its board of
directors has increased the annual dividend rate by 10 percent to 60 cents
per share from 54 cents per share. This represents a quarterly cash dividend
of 15 cents per share payable February 13, 1998 to shareholders of record
at the close of business on January 30, 1998. This is the 22nd consecutive
annual increase in Pentair's quarterly dividend.
The Pentair board also authorized the Company to repurchase within the next
12 months up to 350,000 shares of Pentair common stock. Any purchases would
be made periodically in the open market, by block purchases or private
transactions. The share repurchase is intended to offset the dilution
caused by stock issuances under employee stock compensation plans. As
of September 30, 1997, Pentair had 38,080,709 shares of common stock
outstanding.
With approximately 10,000 employees worldwide, Pentair (http://www.pentair.com)
is a diversified manufacturer operating in three principal markets: electrical
and electronic enclosures; professional tools and equipment; and water products.
Headquartered in St. Paul, Minnesota, Pentair operates from 52 manufacturing
and distribution locations in North America, Europe, and Asia.
