Late on Thursday, diversified conglomerate United Technologies Corporation (UTX
) announced that it is raising its quarterly dividend payout by 10%.
The company will now pay out a quarterly dividend of 58.9 cents per share, up from the previous payout of 53.5 cents per share. This dividend will be paid on December 10 to shareholders of record on November 15, with an ex-dividend date of November 13.
“Strong cash generation is a hallmark of UTC, and we are pleased to extend our long track record of dividend increases,” said United Technologies’ CEO Louis Chênevert. “This increase reflects confidence in our portfolio, our strategy and our leadership team to grow earnings over the long term.”
United Technologies shares were up $2.32, or 2.26%, during morning trading on Thursday. The stock is up 28.11% year-to-date.
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