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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
07/25/201608:30:00Raytheon developing next-generation networking technology to...
07/19/201608:00:00Raytheon Company to release second quarter 2016 results on July...
07/15/201614:41:00U.S. Rocketry Students Soar at International Championship
07/13/201605:00:00Raytheon, Kongsberg to build Naval Strike Missiles and launchers...
07/12/201608:40:00Raytheon introduces online classes to prepare US residents for...
07/12/201608:00:00Morning Analysis on Aerospace/Defense Products & Services Stocks...
07/12/201605:30:00US Navy awards Raytheon $291 million for AIM-9X
07/12/201604:30:00Raytheon missile fired more than 30 times from the Joint Strike...
07/12/201604:00:00New JSOW C-1 ready for US Navy fleet
07/11/201608:30:00Pentagon May Seek Compensation From Boeing for Delays
07/11/201608:00:00U.S. Army enlists Raytheon to help develop next-generation radar
07/11/201605:40:00U.K. Buys Boeing Patrol Planes, Attack Helicopters
07/11/201605:15:00Raytheon, USAF complete new round of Small Diameter Bomb II flight...
07/10/201604:00:00US Air Force awards Raytheon $34 million to demonstrate advanced...
07/08/201614:06:00Patriot destroys missile and aircraft targets in test
07/07/201608:00:00Raytheon's Air and Missile Defense Radar prepares for live target...
07/01/201612:28:00Raytheon and Thales modify ThalesRaytheonSystems joint venture...
06/27/201608:00:00Raytheon completes milestone for next-generation GPS controls
06/23/201617:55:00The State of Kuwait upgrades its air and missile defense
06/22/201609:50:00BAE Systems Spies Growth in Space Defense

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