Fluor Corporation (NYSE:FLR) Wednesday announced the payout dates of its
quarterly cash dividend.
During a board of directors' meeting in Greenville, S.C. , the company
announced that the quarterly dividend of 25 cents per share on Fluor
common stock, is payable April 12, 2000 to holders of record on March
22, 2000.
Fluor, which changed its dividend payout policy in 1999, now bases
payouts on long-term operating performance expectations. Previously, the
company based dividend levels on the prior year's performance. In
addition, the guideline dividend payout range has been increased to
30-35 percent, from the previous 25-30 percent.
With 1999 revenues of $12.4 billion, Fluor Corporation provides services
on a global basis in the fields of engineering, procurement,
construction, maintenance and operations, consulting and coal
production. Fluor is headquartered in Aliso Viejo, Calif.
Fluor Corporation releases are available on Fluor's Corporate News on
the Net site at http://www.businesswire.com/cnn/flr.htm.
'SAFE HARBOR' PROVISION ON FORWARD-LOOKING STATEMENTS
The foregoing release contains forward-looking statements regarding
projected earnings levels, cost reductions, new awards and backlog
levels and the implementation of strategic initiatives. Such
forward-looking statements reflect current analysis of existing
information.
Caution must be exercised in relying on forward-looking statements. Due
to known and unknown risks, the Company's actual results may differ
materially from its expectations or projections. Factors potentially
contributing to such differences include, among others:
-- Changes in global business, economic, political and social
conditions;
-- The Company's failure to receive anticipated new contract
awards;
-- Customer cancellations of, or scope adjustments to, existing
contracts;
-- Difficulties or delays incurred in the execution of
construction contracts resulting in cost overruns or liabilities;
-- Customer delays or defaults in making payments
-- Fluctuations in the demand for, and price of, coal and other
natural resource commodities;
-- Difficulties and delays incurred in the implementation of
strategic initiatives; and
-- Competition in the global engineering and construction
industry.
The forward-looking statements are also based on various operating
assumptions regarding, among other things, overhead costs and employment
levels that may not be realized.
While most risks affect only future costs or revenues anticipated by the
Company, some risks may relate to accruals that have already been
reflected in earnings. The Company's failure to receive payments of
accrued amounts could result in a charge against future earnings.
Additional information concerning factors that may influence the
Company's results can be found in its press releases as well as its
periodic filings with the Securities and Exchange Commission. In this
regard, risk factors are specifically discussed under the heading "Item
I. Business - Other Matters - Fluor Business Risks" in the Company's
Form 10-K filed January 22, 1999. Such filings are available publicly
and upon request from Fluor's Investor Relations Department: (949)
349-3909. The Company disclaims any intent or obligation to update its
forward-looking statements.
Fluor CorporationKeith Karpe, (Media Relations)949/349-7661orFluor CorporationLila Churney, (Investor Relations)949/349-3909Fax: 949/349-5375