Honeywell to Increase Dividend by 15% Effective in the Fourth Quarter 2014
October 31, 2014
Honeywell’s Board of Directors have approved a 15% increase in the company's regular annual cash dividend rate (from $1.80 to $2.07 per common share). The increased regular quarterly dividend will be effective starting with the fourth quarter dividend, which was declared today and is payable on December 10, 2014 to shareowners of record at the close of business on November 20, 2014.
“Today’s announcement reinforces our commitment to driving shareholder value,” said Honeywell Chairman and CEO Dave Cote. “Our 5-year plan reflects a balanced capital allocation strategy that includes strategic M&A, opportunistic share buybacks and dividends which grow faster than our earnings. We’re very proud of our ability to generate the strong earnings and cash growth required to increase our dividend for the tenth time since 2005 and are confident in Honeywell’s ability to outperform in the future.”