Company Declares Quarterly Dividend
Honeywell (NYSE: HON) today announced that its Board of Directors has approved a 15% increase in the company’s regular annual cash dividend rate (from $2.07 to $2.38 per common share). The increase will be effective starting with the fourth quarter dividend of $0.5950 per common share, which was declared today and is payable on December 10, 2015 to shareowners of record at the close of business on November 19, 2015.
“Even in a slow-growth global economic environment, Honeywell remains committed to growing our dividend faster than earnings for shareholders,” said Honeywell Chairman and CEO Dave Cote. “This marks the eleventh consecutive year of a dividend increase for Honeywell. Our balanced cash deployment, which includes high-ROI Capital Expenditures, a competitive dividend, strategic M&A, and opportunistic share buybacks, is part of our 5 year plan and reflective of the company’s continued confidence in its ability to generate strong free cash flow and consistently outperform over the long term.”