MORRIS PLAINS, N.J.,
Oct. 28, 2016 /PRNewswire/ --
Honeywell (NYSE: HON) today announced that its Board of Directors
has approved a 12% increase in the company's regular annual cash
dividend rate (from $2.38 to
$2.66 per common share). The increase
will be effective starting with the fourth quarter dividend of
$0.665 per common share, which was
declared today and is payable on December 9,
2016, to shareowners of record at the close of business on
November 18, 2016.
"Honeywell remains committed to growing our dividend faster than
earnings for shareholders as part of our balanced cash deployment
program," said Honeywell Chairman and CEO Dave Cote. "In addition to the
double-digit increase in our dividend that the Board declared
today, through the third quarter of 2016, we strategically deployed
cash to complete $2.5 billion in
acquisitions and $1.9 billion in
share repurchases. By the end of the year, our total investment in
high-ROI capital expenditures is expected to be more than
$1 billion. We remain confident in
our ability to generate strong free cash flow and drive
outperformance over the long term."
Honeywell (www.honeywell.com) is a Fortune 100 diversified
technology and manufacturing leader, serving customers worldwide
with aerospace products and services; control technologies for
buildings, homes, and industry; turbochargers; and performance
materials. For more news and information on Honeywell, please
visit www.honeywellnow.com.
This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, that address activities, events or
developments that we or our management intends, expects, projects,
believes or anticipates will or may occur in the future are
forward-looking statements. Such statements are based upon certain
assumptions and assessments made by our management in light of
their experience and their perception of historical trends, current
economic and industry conditions, expected future developments and
other factors they believe to be appropriate. The forward-looking
statements included in this release are also subject to a number of
material risks and uncertainties, including but not limited to
economic, competitive, governmental, and technological factors
affecting our operations, markets, products, services and prices.
Such forward-looking statements are not guarantees of future
performance, and actual results, developments and business
decisions may differ from those envisaged by such forward-looking
statements. We identify the principal risks and uncertainties that
affect our performance in our Form 10-K and other filings with the
Securities and Exchange Commission.
Contacts:
|
|
Media
|
Investor
Relations
|
Robert C.
Ferris
|
Mark
Macaluso
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(973)
455-3388
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(973)
455-2222
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rob.ferris@honeywell.com
|
mark.macaluso@honeywell.com
|
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SOURCE Honeywell