Jacobs Engineering (JEC) Plans to Initiate Dividend with Target Yield of 1%

December 1, 2016 9:39 AM EST

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Jacobs Engineering (NYSE: JEC) announced that its Board of Directors has approved the initiation of a cash dividend program under which we intend to pay a regular quarterly dividend yielding approximately 1% per year starting in 2017. Future dividend payments are subject to review and approval by the Board of Directors.

“Our efforts to reorganize and restructure are transforming Jacobs and reenergizing the business. By levering our strong foundation, implementing a set of strategic imperatives, and executing our capital deployment in a disciplined manner, we expect to drive strong shareholder returns,” said Steve Demetriou, Jacobs Chairman & CEO. "We believe the initiation of a dividend demonstrates our commitment to enhancing shareholder value and underscores our positive outlook for our future performance."

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