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Raytheon Boosts Annual Dividend 16% In 8th Straight Increase

DOW JONES NEWSWIRES Raytheon Co. (RTN) will increase its annual dividend 16%, extending its streak of higher shareholder payouts for the eighth straight year. The 28-cent increase, to $2 a share, will cost the company about $95 million more each year. Raytheon on Wednesday also declared a 50-cent quarterly dividend as part of the increase. The company's quarterly payouts are subject to authorization by its board. The defense company's raised dividend follows a series of similar increases from a wide range of companies in recent months. Many corporations have boosterd payouts to investors of late to reassure them about future business prospects. Raytheon and other defense companies have been diversifying into growing areas such as cybersecurity and seeking international growth in response to lean U.S. defense spending. The company's latest fourth-quarter profit improved--despite weaker revenue--due to lower costs. "This dividend increase reflects our confidence in the company's future, and represents our continued dedication to a balanced capital deployment strategy made possible by Raytheon's strong financial position," Chairman and Chief Executive William H. Swanson said. Shares were up 1.6% at $52.31 after hours. The stock had climbed 9.3% over the past three months through Wednesday's close. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Raytheon (RTN)
DateTimeHeadline
12/05/201615:30:00Human Rights Campaign names Raytheon a "Best Place to Work" for...
12/05/201608:30:00Raytheon, DARPA developing advanced tech to protect US power...
11/30/201617:21:50Statement of Changes in Beneficial Ownership (4)
11/30/201617:21:25Statement of Changes in Beneficial Ownership (4)
11/28/201608:30:00Raytheon wins $225m contract for increased Patriot missile defense...
11/28/201608:00:00Raytheon offers the only interoperable electronic warfare planning...
11/21/201608:00:00Raytheon executives to speak at Credit Suisse 4th Annual Industrials...
11/20/201620:50:00CFIUS Again Objects to a China-Europe Deal
11/20/201620:50:00U.S. Moves to Block Chinese Takeover of German Tech Firm
11/18/201611:04:00Raytheon plans Southern Arizona expansion
11/16/201616:05:00Raytheon Company declares quarterly cash dividend
11/15/201620:26:00Correction to Boeing to Cut Defense Jobs Article
11/15/201620:18:00Boeing to Cut Defense Jobs -- Update
11/15/201617:40:50Statement of Changes in Beneficial Ownership (4)
11/14/201608:31:00Raytheon Partners with USO to Support Service Members Reintegrating...
11/09/201618:21:00Defense Stocks Rise on Donald Trump Victory -- Update
11/09/201609:57:00Defense Stocks Rise on Donald Trump Victory
10/28/201608:00:00RAF awards Raytheon UK £131 million to continue Sentinel support
10/28/201608:00:00RAF awards Raytheon UK £131 million to continue Sentinel support
10/27/201610:26:48Quarterly Report (10-q)

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