UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) April 14, 2014
WHIRLPOOL CORPORATION
(Exact name of registrant as Specified in Charter)
Delaware | 1-3932 | 38-1490038 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
2000 M-63 North, Benton Harbor, Michigan | 49022-2692 | |
(Address of Principal Executive Offices) | (Zip Code) |
(269) 923-5000
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
On April 14, 2014, Whirlpool Corporation (the Company) issued a press release announcing an increase in its quarterly dividend from 62.5 cents per share to 75 cents per share, effective for the dividend payable on June 15, 2014 to stockholders of record at the close of business on May 16, 2014. The press release also announced that the Companys Board of Directors approved a new $500 million share repurchase authorization. A copy of the press release is attached as Exhibit 99.1 to this report and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 | Press Release dated April 14, 2014 |
SIGNATURE
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.
WHIRLPOOL CORPORATION | ||||||
Date: April 15, 2014 | By: | /s/ KIRSTEN J. HEWITT | ||||
Name: | Kirsten J. Hewitt | |||||
Title: | Senior Vice President Corporate Affairs, General Counsel, and Corporate Secretary |
Exhibit 99.1
Contact: Whirlpool Corporation
Media: 269/923-7405
Media@Whirlpool.com
Financial: Joe Lovechio, 269/923-2641
Investor_Relations@Whirlpool.com
WHIRLPOOL CORPORATION INCREASES QUARTERLY DIVIDEND 20% BASED ON STRONG
GROWTH AND MARGIN EXPANSION
$500 million share buyback authorization also announced
BENTON HARBOR, Mich. April 14, 2014 The board of directors of Whirlpool Corporation (NYSE:WHR) declared today a 20 percent increase in the quarterly dividend on the companys common stock to 75 cents per share from 62.5 cents per share. The dividend is payable June 15, 2014, to stockholders of record at the close of business on May 16, 2014.
The companys board of directors also approved a new $500 million share repurchase authorization. The company completed its previously authorized repurchase program in December 2013.
I am pleased to announce that we are continuing to enhance returns to shareholders through a dividend increase and share repurchase program, said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. Our record 2013 earnings performance delivered revenue growth and margin expansion with our industry-leading brands and innovative products. These moves underscore our confidence in our long-term growth and innovation strategies and expected strong performance in 2014.
About Whirlpool Corporation
Whirlpool Corporation is the worlds leading global manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2013, 69,000 employees and 59 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names. Additional information about the company can be found at http://www.whirlpoolcorp.com.
Whirlpool Additional Information
This document contains forward-looking statements. Actual events or results may differ materially from those statements. For information about the factors that could cause such differences, please refer to our Annual Report on Form 10-K for the year ended December 31, 2013, including the information set forth under the caption Risk Factors.
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