Fluor Corp. (NYSE:FLR) Wednesday announced the payout dates of its
quarterly cash dividend.
During a board of directors' meeting in Richmond, Va., the company
announced that the quarterly dividend of 25 cents per share on Fluor
common stock, is payable July 12, 2000 to holders of record on June 21,
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 Corp. provides services on a
global basis in the fields of engineering, procurement, construction,
maintenance, operations, and coal production. Fluor has headquarters in
Aliso Viejo.
NOTE 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 Corp. releases are available on Fluor's Corporate News on the Net
site at http://www.businesswire.com/cnn/flr.htm.
Fluor Corp., Aliso ViejoLila Churney, Investor Relations949/349-3909Fax: 949/349-5375orKeith Karpe, Media Relations949/349-7661