Rockwell Automation Inc. (ROK) boosted its quarterly dividend
21%, joining a long list of companies that have increased payouts
to shareholders in recent months using stockpiled cash.
The payout boost reflects the company's solid financial position
and confidence in its ability to generate cash throughout different
business cycles, Chairman and Chief Executive Keith D. Nosbusch
said.
The maker of factory-automation equipment and software posted
higher earnings in its latest fiscal second-quarter as sales
conditions improved, especially in China and India.
The 7.5 cent increase, to 42.5 cents a share, will cost the
company about $42.7 million more a year. Rockwell last June raised
its dividend by the same percentage.
Shares of the company were off 18 cents, to $82.87 in light
after-hours Thursday. The stock is up 54% over the past 12
months.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com